Siam Cement eyes stake in cement maker in Vietnam

News - Thailand's Siam Cement Pcl said on Wednesday it was interested in buying a stake in a cement maker in Vietnam and expected to spend less than 10 billion baht ($315 million) on the acquisition.

Siam Cement, which is looking for opportunities to buy assets in Southeast Asia, expected to conclude details about the deal in the second half of this year, Chief Executive Kan Trakulhoon told reporters.

Earlier, the country's top industrial conglomerate reported an 81 percent fall in quarterly net profit, hit by weak activity because of flooding plus changes in government taxation.