The Siam Cement Public Company Limited (SCC) has announced that SCG Trading Company Limited (SCG Trading), a 99.97% subsidiary indirectly owned by SCC, has entered into a joint venture agreement with Great Wall Ceramic Industries Ltd. (Great Wall) to co-invest and establish Smart Build Bangladesh Co., Ltd. (Smart Build) in Bangladesh following its strategic plan to export and expand distribution channels to the South Asian region.
The capital of this newly established joint venture company is planned to be 63.5 million BDT (฿25 million), and SCG Trading will hold a 51% equity stake, while the other 49% will be held by Great Wall. Operations are expected to begin in the second quarter of 2019.
Great Wall is a leading manufacturer, importer and distributor of ceramic tiles and sanitary wares in Bangladesh with a long business partnership with SCG Trading for over ten years with the total sales volume of approximately 6,480 million BDT (approximately ฿2,715 million) in 2017. Smart Build is formed aiming at supporting the business transform of SCG Trading from an import-export agent to an integrated distributor while providing product installing and consulting services.