Siam Cement Group Acquires Tile Maker
Huong Canh, Vietnam, Jan. 2, 2013 -- Siam Cement Group said it will purchase a majority stake in Vietnamese tile maker Prime Group for $240 million.
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The agreement calls for the wholly owned SCG Building Materials to acquire 85% of the Prime Group.
The Prime Group, producer of the Prime master brand, operates six tile factories with a capacity of 75 million square meterss in Vietnam and commands a 20% domestic market share.
It also owns clay, sand and feldspar mines, which supply the main ingredients for production.