After buying Duy Tan Plastic Corp, Thailand’s Siam Cement Group (SCG) is cementing its domination of Vietnam’s plastic production industry.
Under the contract signed on February 9 via a virtual conference, Duy Tan will sell 70 per cent of its shares in five of total twenty-two subsidiary companies, including Duy Tan Plastic Manufacturing Corp and Duy Tan Long An Corp, to SCG’s SCG Packaging, Duy Tan said.
Duy Tan Plastic is a leading company in the plastic goods market in Viet Nam with revenue of 4.7 trillion dong ($204 million) last year. It has nearly 1,000 commodities units and 16,000 distribution agents across the country. The company’s annual capacity reaches 116,000 tonnes of hard plastic packaging and plastic goods.
SCG, Thailand’s largest cement producer, will buy the stakes over three years, starting from 2021. The deal takes a long time as it is based on business…
