Holcim Ltd has reduced its shareholding in Siam City Cement (Public) Company Limited (SCCC) from 36.8 percent to 27.5 percent. The shares have been purchased by Bangkok Broadcasting and Television Co., Ltd., a company of the Ratanarak Group, which will increase its shareholding in SCCC to 47 percent. At Holcim, SCCC will be accounted for as per the revised IFRS accounting standards as of January 1, 2013. Holcim will remain the strategic partner of SCCC.
SCCC is a leading construction materials group which has a cement production capacity of 16.5 million tonnes at its Saraburi plant. With 3,250 employees, the company recorded net sales of USD 755 million in 2011.
The Ratanarak Group’s investments not only cover construction materials businesses; the Group also has an important presence in the banking and insurance business, as well as in real estate and television broadcasting.
Furthermore, Holcim sold its 20 percent stake in Cementos Progreso S.A. (Progreso) to its majority shareholder, Grupo Cemcal S.A. Progreso, which owns a cement plant in San Miguel with an annual capacity of 3 million tonnes.
For the sale of these two share packages, which is part of the Holcim Leadership Journey, Holcim has received approximately CHF 375 million.
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Holcim is one of the world's leading suppliers of cement and aggregates (crushed stone, gravel and sand) as well as further activities such as ready-mix concrete and asphalt including services. The Group holds majority and minority interests in around 70 countries on all continents.
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