TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
*
Home
Press release
Mar 21, 2018 16:00 JST
Source:
Chememan PCL
Chememan (SET:CMAN) Begins on Thai Exchange
- Joint Ventures with Partners to Build Two Lime Plants in India
- Aims to Become One of the World's Top 10 Leaders of the Industry
BANGKOK, Mar 21, 2018 - (ACN Newswire) - Chememan PLC, Thailand's largest lime and derivatives chemical producer and distributor, began trading today on the Stock Exchange of Thailand as CMAN (SET:CMAN). The company highlights its vision to become one of the world's leading producers of lime and lime derivative chemical products by expanding production capacity to one million tonnes per year by 2020, and is committed to expanding the lime market overseas and increasing its client base in 10 industries in over 20 countries worldwide.
Mr. Adisak Lowjun, Chief Executive Officer of CMAN, is confident of a strong reaction from investors. Judging from response to the company's Initial Public Offering (IPO), investors have shown that they believe in the potentials of Chememan. The company stands ready to step up as one of the world's top 10 leading producers of lime and lime derivative chemical products according to the vision set out for the company. It is expanding its production capacity to meet the demand for lime which has been continuously increasing and also to boost the company's competitive edge at the global level.
Chememan is currently pursuing joint ventures with two local partners in India to build two lime plants - one in Visakhapatam and another in Tuticorin - which are key ports and industrial zones of India. The plants will produce and distribute lime and mineral limestone products in India which is a market with high growth potentials. It is expected that the two plants will begin commercial operation in 2019 and will increase Chememan's combined total production from 900,000 tonnes per year at present to one million tonnes per year by next year.
The company is convinced it has the capability to become the leading producer of lime and lime derivative chemical products in Asia since it is already the largest producer and distributor in Thailand. Chememan is also the only lime business operator in the country to have both production plants and a 25-year concession (ending 23 June 2040) from the state to mine Ultra-high Calcium Limestone. This will benefit quality control and security of raw materials as well as provides good opportunities for growth and market expansion domestically and internationally in the future.
"We see the opportunity for growth in the lime market from the demand for our products both here and overseas. Our products are used in the production processes of a great variety of industries such as pulp and paper, sugar, bioplastic, construction, construction materials, and steel industries. Therefore, we adopted the strategy to expand both the domestic and foreign markets. The oversea markets are our key targets to generate revenue and to capture market share in the future from our current client base in more than 20 countries worldwide," Mr Adisak said.
Mr. Paiboon Nalinthrangkurn, Chief Executive Officer of TISCO Securities Ltd., in his capacity as underwriter, said Chememan has good business fundamentals and competitive potentials as well as production plants and mining concession from the state. This provides good security for production and source of raw materials. Additionally, it is also the largest lime producer and distributor in Thailand and is the leading producer of lime and lime derivative chemical products in the Asia region. The company distributes products to many industries both domestically and internationally which gives it good risk distribution in terms of markets.
"I believe that Chememan shares will capture the interest of investors because lime products have a wide client base and can be used in the production processes of a variety of goods. At the same time the company has a team that is knowledgeable and understands the lime industry well. It has continuously researched and developed products and expanded foreign investment which will give it good prospects for increasing market shares both domestically and abroad," Mr Paiboon said.
Released for Chememan PLC by MT Multimedia Ltd.
Ms Orn-anong Pattaravechakul (Fah)
Tel: +66 2612 2081 ext 129 or +66 8 6884 4458
E-mail :
ornanong.p@mtmultimedia.com
Source: Chememan PCL
Sectors: Chemicals, Spec.Chem, Daily News
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Related Press Release
The Executive Talk: Chememan PCL (SET:CMAN)
January 15 2019 11:00 JST
More Press release >>
Latest Press Release
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan
Apr 26, 2024 10:00 JST
Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST
MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST
GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST
Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST
Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST
UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST
Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST
MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST
Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST
Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST
Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST
Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST
TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
More Latest Release >>