Siam City Cement starts its journey in Bangladesh
Bangkok-based Siam City Cement Public Company has recently acquired cement maker Cemex and started its operation in Bangladesh.
The company with operations in different countries in South East Asian region has 47 years of experience in the industry.
Cemex, a Mexico-based cement manufacturer, sold its operations in Bangladesh and Thailand to Siam City for about $53 million.
The proceeds obtained from the transaction will be used mainly for debt reduction and general corporate purposes, according to the website of Cemex.
Cemex started its journey in Bangladesh in 1999, and began sales and distribution activities in May 2000 by importing finished goods from Indonesia.