The Siam Cement Public Company Limited (SCC) announces that SCG Chemicals Company Limited (SCG Chemicals), a wholly owned subsidiary of SCC, has signed a Share Purchase Agreement to purchase 5.37% stake in Bangkok Synthetics Company Limited (BST) from Bangkok Bank Public Company Limited (BBL) for 1,651 Million Baht. As a result, SCC’s stake in BST will increase to 54.20%. SCG expects to complete the transaction within September 2021.
BST is a leading producer of mixed C-4 products such as butadiene, nitrile latex, and synthetic rubber. It is located in Map-Ta-Phut industrial estate in the Eastern Seaboard of Thailand. BST’s products are used in the production of goods that serve the mega trends such as medical gloves and fuel-saving green tires. As BST is currently receiving its main raw material from SCG Chemicals’ subsidiary, increasing a stake in BST will allow SCG Chemicals to further add value to its integrated chemicals chain.
In FY2020, BST had registered sales of 10,142 million baht and net profit of 920 million bahr, while 1H/2021, BST had revenues of 10,685 million baht and net profit of 3,905 million baht.