Asahi Glass Company, Limited (?sahi? announced today that it has reached agreements with CPB Equity Company, Limited (?PBE? and Siam Cement Public Company, Limited (?CC? to sell the entire shares of the Thai Plastic and Chemicals Public Company, Limited (?PC? held by Thasco Chemical Company, Limited, a subsidiary of Asahi. The number of shares to be sold is 21,875,075 shares which is equivalent to 25% of the issued shares of TPC. The selling price will be 180 baht per share and the total sales amount will reach approximately 3,938 million baht.
The decision to sell the TPC shares was made aiming at more efficient utilization of the assets owned by Asahi. CPBE will purchase 13 million shares (about 15% of the outstanding shares of TPC) and SCC will purchase 8,875,075 shares (about 10% of the outstanding shares of TPC).
| [Thai Plastic and Chemicals Public Company, Limited] |
| Establishment |
1966 |
| Managing Director |
Dhep Vongvanich |
| Paid-up Capital |
THB 875million |
| Business |
Production and sales of PVC resin and processed goods |
| Head Office |
Bangkok, Thailand |
| Sales |
THB 18,063million ( 2003 ) |
|
| [CPB Equity Co.] |
| Establishment |
1994 |
| Managing Director |
Michael D. Selby |
| Paid-up Capital |
THB 11,622million |
| Business |
Investment |
| Head Office |
Bangkok, Thailand |
|
| [Siam Cement Public Co.] |
| Establishment |
1913 |
| Managing Director |
Chumpol NaLamlieng |
| Paid-up Capital |
THB 1,200million |
| Business |
Production and sales of Cement, Petrochemical,Pulp and paper, Building materials and distribution of such products |
| Head Office |
Bangkok, Thailand |
|
| [Thasco Chemical Co., Ltd.] |
| Establishment |
1964 |
| Managing Director |
Toshio Tsuji |
| Paid-up Capital |
THB 2,800million |
| Business |
Production and sales of Caustic Soda, Chlorine and Chlorine derivatives |
| Head Office |
Bangkok, Thailand |
| Shareholders |
Asahi Glass Co., Ltd. 99.85% |
|
