Siam Cement
| Siam Cement
|
|
|---|---|
 |
|
| legal form | Public Company Limited / Borisat Chamkat Mahachon |
| ISIN | TH0003010Z12 |
| founding | 1913 |
| Seat |
Bangkok , Thailand
|
| management | Chirayu Isarangkun Na Ayuthaya (Chairman) Kan Trakulhoon (CEO) |
| Number of employees | around 24,000 (as of 2010) |
| Branch | Conglomerate, v. a. Building materials, chemistry |
| Website | www.scg.co.th |
Siam Cement Group ( SCG ; officially The Siam Cement Public Company Limited ; Thai บริษัท ปูน ซิ เมน ต์ ไทย จำกัด (มหาชน) , RTGS Borisat Punsimen Thai Chamkat (Mahachon) ) is a Thai company headquartered in Bangkok .
Siam Cement is a conglomerate . The company specializes in particular in the production of cement . The core business of SCG also includes the production and processing of pulp and paper , petrochemicals and other building materials . The majority shareholder is the Crown Property Bureau (CPB), which manages the royal assets.
history
The company was founded in 1913 by a decree of King Rama VI. (Vajiravudh) who wanted to end the country's dependence on cement imports. During the first 60 years after its founding, Siam Cement focused on the eponymous cement business. It was not until 1976 that the company expanded into the pulp and paper sector, followed by a significant diversification into the petrochemicals, ceramics , iron and steel, machinery, tires and auto parts sectors in the 1980s . SCG chose the legal form of in 1994 Aktiengesellschaft (public company limited) and has been in the SET Index listed.
Due to the prestige of the group based on its proximity to the royal family, numerous foreign companies have entered into joint ventures with SCG. In the time before the Asian crisis , Siam-Cement subsidiaries produced cars with Toyota , tires with Michelin and television sets with Mitsubishi . On the eve of the 1996 crisis, the SCG owned 130 companies with total sales of US $ 6 billion. From the early 1990s, Siam Cement relied heavily on internationalization. With the aim of becoming the leading industrial company in the Asia-Pacific region, SCG invested in the United States, the states of Southeast Asia and China. As these projects exceeded the Group's financial capacity and were largely debt financed , Siam Cement suffered heavily from the depreciation of the Thai baht in 1997. That year, SCG lost 52 million baht and its foreign debt was 4.5 billion US dollars.
However, the company dealt honestly with its situation and put together a restructuring plan with its creditors. With advice from McKinsey & Co. , Deutsche Bank and JPMorgan Chase , SCG decided to focus on its core businesses of cement, pulp and paper as well as petrochemicals and sell off subsidiaries in other industries in order to reduce its debts. Siam Cement gave its shares in several joint ventures (for example with Toyota, Mitsubishi, Guardian Industries and Knauf Gips ) to the respective partners. SCG also issued seven-year bonds that raised more than $ 2 billion. The group also offered its employees voluntary exit models, reducing the number of employees from 35,000 to 25,000. Siam Cement was back in the black as early as 2000.
The company is managed by Kan Trakulhoon (CEO) Chairman of the Board of Directors is Chirayu Isarangkun Na Ayutthaya , the General Director of the CPB. In 2015, Siam Cement reported sales of $ 15.01 billion, profits of 1.03 billion and assets of $ 14.16 billion. The company had 3,666 employees and was valued at $ 19.1 billion. This made it the fourth largest company in Thailand and one of the thousand largest in the world.
Web links
literature
- Sooksan Kantabutra, Gayle C. Avery: Sustainable leadership at Siam Cement Group. In: Journal of Business Strategy , Volume 32, No. 4, 2011, pp. 32-41, doi : 10.1108 / 02756661111150954
- Pavida Pananond: The Making of Thai Multinationals. A Comparative Study of the Growth and Internationalization Process of Thailand's Charoen Pokphand and Siam Cement Group. In: Journal of Asian Business , Volume 17, No. 3, 2001, pp. 41-70.
- Paul Temporal: Asia's Star Brands. John Wiley & Sons, Singapore 2006. “Case Study 18 - Siam Cement ('Jaidee'). Branding Conglomerates, "pp. 172-180.
- Natenapha Wailerdsak, Akira Suehiro: Promotion systems and career development in Thailand: A case study of Siam Cement. In: The International Journal of Human Resource Management , Volume 15, No. 1, 2004, pp. 196-218, doi : 10.1080 / 0958519032000157429 .
Individual evidence
- ^ A b Andrea Goldstein, Pavida Pananond: New Multinationals from Singapore and Thailand. The Political Economy of Regional Expansion. In: New Dimensions of Economic Globalization: Surge of Outward Foreign Direct Investment from Asia. World Scientific, Singapore 2008, p. 235
- ^ Temporal: Asia's Star Brands. 2006, p. 172.
- ^ Temporal: Asia's Star Brands. 2006, pp. 173-174.
- ^ SCG: Board of Director
- ^ Forbes: Siam Cement , accessed November 13, 2015.