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Siam Cement Sells 71 Percent of Wire Firm to Singapore Business.
Jan. 4--Siam Cement has sold a 71 percent stake in Siam Industrial Wire Co to NatSteel Ltd of Singapore as part of a plan to divest non-core businesses.
Siam Cement received 245 million baht from the sale and expects to retain a net profit of 95 million baht after tax and debt repayment. It still holds a 29 percent stake in the firm.
NatSteel Ltd is listed on the Singapore Stock Exchange and owns three main manufacturing businesses: steel, heavy industry and electronics.
Siam Industrial Wire, formerly a division of Siam Iron ...
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