Golden Lime PLC acquires Saraburi Quicklime, reinforcing its leadership position on the Thai market.
Deal signals first ever acquisition among lime producers in Thailand
Bangkok – March 19, 2018 – Golden Lime Public Company Limited (SET: SUTHA), a subsidiary of the Carmeuse and GP Group announced today the acquisition of a 99.9% stake in Thailand’s fourth largest lime company Saraburi Quicklime.
The acquisition will further contribute to Golden Lime’s leading position in the Thai market, and complements the recent organic growth of the company. With the commissioning of a new production site early this year and the acquisition of Saraburi Quicklime, Golden Lime’s production capacity increased from 330 thousand tons to 500 thousand tons a year of quick lime installed capacity - a 50% increase compared with a year ago.
Thailand is one of the largest consumers of lime and lime derived products in South East Asia thanks to a large and diversified industrial and agricultural base. The consensus view for 4% GDP growth in Thailand for 2018 should translate into increased demand in the main lime consuming sectors of the economy. Sugar cane harvest is expected to be 10-15% stronger compared to last year and further growth is expected in the steel industry which was up 10% in 2017.
“We have been waiting for the right opportunity to accelerate our growth via acquisition” said Geza Perlaki, Managing Director of Golden Lime. “Saraburi Quicklime has a solid reputation of being a reliable industrial supplier and having sustainable relationships with local customers. Combined with the knowledge base and operational expertise of Golden Lime, we are building a strong organization to support our various customers. We are very happy to welcome the Saraburi Quicklime team into Golden Lime and look forward to start working together on the opportunities to develop the combined company. “