SCG to invest 4,300 MB on construction business in Indonesia Date : 10 February 2012
SCG today announced its latest ASEAN business expansion plan to acquire stake of Boral Indonesia (BI), Indonesian construction materials business, from from Boral Limited, Australia, in a transaction valued approximately 4,300 MB (135 USD) The transaction is expected to complete before the end of June 2012. This acquisition continues with SCG’s expansion of core businesses across the ASEAN region.
Mr. Kan Trakulhoon, President and CEO of SCG said, ”SCG has continued to expand business presence in ASEAN countries to achieve our mission of becoming a sustainable leader in ASEAN. Our latest move is to allocate budget of 4,300 MB to invest in construction materials business in Indonesia by acquiring stake of Boral Indonesia (BI), Indonesia’s leading producer of ready-mixed concrete with capacity of 2.2 million cubic metre and operates under the brand “Jayamix” across its 40 plants across Java and Sumatra. Besides ready-mixed concrete, BI possesses other highly valued assets, such as concrete pipes, precast concrete operations, strategic quarries, and key limestone reserves for future expansion considerations.
“Indonesia is an attractive market for SCG’s cement and building materials businesses, supported by the potential for high growth and ample untapped demand. Earlier in 2011, SCG’s acquired Kokoh and Kia in Indonesia, which are in the distribution and building materials businesses, respectively,” added Mr. Kan