Bangkok--7 Jul--SCG
SCG has acquired a 55% stake in Panel World aiming to increase competitiveness and strive to be market leader in building materials.
Mr. Kan Trakulhoon President & CEO, SCG said that SCG Cement – Building Materials Company Limited, a subsidiary of SCG, has acquired a 55% stake in Panel World Company Limited (or “Panel World”). SCG’s investment of 550 MB is for a 55% stake in the equity, while the enterprise value (EV) is 1,000 MB.
“SCG determines to increase competitiveness and strive to be market leader in building materials. Panel World’s annual capacity of cement-bonded particleboard is rated at 2.4 million sqm, while a new production line with an additional capacity of 2.4 million sqm is expected to start-up towards the end of 2014” Mr. Kan said
Cement-bonded particleboard comprises of woodchips which are bonded with cement. Applications include both interior and exterior usage, and possess positive attributes such as durability to harsh weather conditions, heat and sound insulation, high degree of smoothness, and ease of workability. In FY2013, Panel World registered sales of 318 MB, net profit of 82 MB, and had assets of 341 MB.