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Thai Paper Firm Puts Priority on Integrating Its New Acquisition.
Byline: Soonruth Bunyamanee
Jan. 5--Siam Pulp and Paper Plc is poised to exercise its power for the first time in Phoenix Pulp and Paper by suspending the latter's 12-billion-baht capacity expansion plan.
The paper flagship of the Siam Cement Group said the current climate did not favour a further major investment, so Phoenix's plan to double its production capacity would need revision by the new majority shareholder.
Siam Pulp said it now held 61 percent or 73.2 million Phoenix shares after the expiry of its tender offer on Thursday.
"Amid the current economic hardship, Siam Pulp's growth from now on would focus more on integration ...
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Source: HighBeam Research, Thai Paper Firm Puts Priority on Integrating Its New Acquisition.