Bangkok--22 Mar--IR PLUS
Golden Lime Public Company Limited (SET: SUTHA), a subsidiary of the Carmeuse and GP Group announced today the acquisition of a 99.9% stake in Thailand's fourth largest lime company Saraburi Quicklime.
The acquisition will further contribute to Golden Lime's leading position in the Thai market, and complements the recent organic growth of the company. With the commissioning of a new production site early this year and the acquisition of Saraburi Quicklime, Golden Lime's production capacity increased from 330 thousand tons to 500 thousand tons a year of quick lime installed capacity - a 50% increase compared with a year ago.
Thailand is one of the largest consumers of lime and lime derived products in South East Asia thanks to a large and diversified industrial and agricultural base. The consensus view for 4% GDP growth in Thailand for 2018 should translate into increased demand in the main lime consuming sectors of the economy. Sugar cane harvest is expected to be 10-15% stronger compared to last year and further growth is expected in the steel industry which was up 10% in 2017.
"We have been waiting for the right opportunity to accelerate our growth via acquisition" said Geza Perlaki, Managing Director of Golden Lime. "Saraburi Quicklime has a solid reputation of being a reliable industrial supplier and having sustainable relationships with local customers. Combined with the knowledge base and operational expertise of Golden Lime, we are building a strong organization to support our various customers. We are very happy to welcome the Saraburi Quicklime team into Golden Lime and look forward to start working together on the opportunities to develop the combined company".
About Golden Lime Public Company Limited
Golden Lime (www.goldenlime.co.th) is Thailand's leading producer of lime and lime derived products. Headquartered in Nonthaburi, the company has its main operations in Saraburi and Lopburi. In 2014, the company went public. Its shares are listed on the Stock Exchange of Thailand (SET: SUTHA). In 2017, the company's turnover exceeded THB 919 million. It employs approximately 220 people.
Golden Lime PLC 's majority (73.79%) shareholder is CE Lime (Thailand), a joint venture company of Carmeuse and the GP Group
About Carmeuse
Headquartered in Luxembourg, Grand Duchy of Luxembourg, Carmeuse (www.carmeuse.com) is a worldwide leading producer of high calcium and dolomitic lime, limestone and derived products. With operations across more than 90 locations in Europe, The Americas, Asia, Middle East and Africa, the company has been providing for 158 years solutions to markets as diverse as steel, construction, roads and soil stabilization, mining and non-ferrous metals, water and waste treatment, flue gas treatment, chemicals, agro-food, paper, glass, ceramics, plastic, carpet, paint, and many other applications worldwide. In group's turnover exceeds EUR 1.1 billion. It employs over 4000 people worldwide.
About GP Group
GP Group (www.premjee.com), headquartered in Bangkok, Thailand, is active in a wide range of industries including energy, transportation, mining, construction, logistics, pharmaceuticals and software. The group has been in business for over 146 years.