Siam Cement Group (SCG), Thailand's top industrial conglomerate, yesterday announced the integration of its three subsidiaries as part of a restructuring to enhance operational efficiency in the Asean region.
SCG will next month integrate the subsidiaries in the cement, building materials and distribution businesses into one subsidiary called SCG Cement-Building Materials, SCG said in a filing to the Stock Exchange of Thailand (SET) yesterday.
"The restructuring is aimed at increasing operational efficiency and accelerating the development of products and services to fulfil customer needs, and support business expansion in Asean," said president and chief executive Kan Trakulhoon.
"This business restructuring aims to further strengthen SCG's operational excellence and sustainable growth in Asean."
SCG's board of directors has already endorsed the plan.
The consolidation will support improvements in technology requirements and development of high-value-added products and services.
As SCG expands its operations across Asean, the restructuring will enhance its overall competitiveness over the longer term.
The group's two other core businesses, paper and chemicals, remain unchanged, Mr Kan said.
Kajohndet Sangsuban, now president of SCG Distribution, is named president of SCG Cement-Building Materials, while Pichit Maipoom, currently head of Siam Cement Plc, will become a vice-president for operations.
Aree Chavalitcheewingul will be a vice-president in charge of regional business for the new company.
Shares of Siam Cement (SCC) closed yesterday on the SET at 496 baht, up 26 baht, in heavy trade worth 1.22 billion baht.