Thailand becomes ‘King of Cement’ in Vietnam
Thailand based Siam City Cement Public Company has agreed to purchase a 65% stake in cement manufacturer Holcim Vietnam HVL from French headquartered LafargeHolcim, according to an SCCC statement. HVL currently operates one integrated plant and four grinding plants with an annual cement capacity of 6.3 million metric tons. HVL is also a leading ready-mix concrete producer operating seven plants in the south of Vietnam. The deal valued at US$856 million is being advised by Linklaters. The remaining 35% stakeholder in the HVL joint venture is the Vietnam Cement Industry Corporation, who is not expected to object to the transaction moving forward.
