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NSM, Sicos merger seen as trendsetter for steel sector.
(From Thai Press Reports)
Section: Corporate News - Nakornthai Strip Mill Plc (NSM), a hot-rolled steel producer announced it will merge with cold-rolled steel firm Siam Integrated Cold Steel (Sicos), a move which will result in a mega integrated steel production with combined assets of over 50 billion baht.
Somjet Moosirilert, president of Thai Asset Management Corp (TAMC) said that under the merger deal, NSM which is better equipped in terms of business plan, operational efficiency and facilities, will buy machinery and assets from Sicos.
TAMC became a major creditor of NSM after most of the company's creditors transferred the deal to be managed …
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