The Siam Cement Public Company Limited (SCC) revealed that SCG Chemicals Public Company Limited (SCGC) has received a letter from the Securities and Exchange Commission (SEC) notifying the approval under SCGC’s initial public offering (IPO) request form was completed on October 5, 2022.
Currently, SCGC is considering the appropriate timing for an IPO and listing SCGC’s shares on the Stock Exchange of Thailand. This depends on external circumstances such as the risk of a global recession. Energy Crisis and Inflation China’s lockdown from Covid-19 as well as financial and capital markets conditions. and the confidence of both Thai and foreign investors
However, from the above situation It is expected that the IPO and the listing of SCGC’s shares on the SET It may not happen by 2022 and will continue to be considered appropriate in early 2023.
Mr. Thanawong Areeratchakul, Chief Executive Officer and President of SCGC revealed that although the global economic situation may be uncertain due to various factors, SCGC still attaches great importance to the development of innovative chemicals. By focusing on products with high value added (HVA: High Value Added Products and Services) to facilitate the lifestyle of consumers. and focus on the development of innovations that are environmentally friendly or Green Innovation, which has collaborated with major consumer product manufacturers. Developing eco-friendly packaging from SCGC GREEN POLYMERTM by introducing innovative, high quality, odorless recycled plastic. For products that want to emphasize a particular fragrance
Most recently, to accelerate the introduction of green products in the European and African markets, SCGC has continued to invest in new technology and machinery in Seaplast Portugal following acquiring a 70% stake in Sirplaste-Sociedade Industrial de Recuperados de Plástico, SA ( Sirplaste) in April 2022, to expand the production capacity of high quality recycled plastic pellets. High Quality Post-Consumer Recycled Resin-PCR 9,000 tons per year, or an increase of 25% of the total production capacity at present, resulting in Seaplast Co., Ltd. It will have a total capacity of recycled plastic pellets of more than 45,000 tons per year by the second quarter of 2023, reinforcing the potential of a sustainable integrated chemical leader.
for the construction of the LSP Project, a Petrochemical Complex (Long Son Petrochemical Complex) in Vietnam There is progress as planned. It is expected to start commercial operations within 2Q23.