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FnWeb.com via NewsEdge Corporation :

fnWEB - Bangkok - October 25, 2007 - Siam Cement, Thailand’s giant cement producer, has affirmed it will maintain local cement prices despite increasing production costs.

Karn Trakulhoon, the company’s president, said the firm had seen no need to raise prices of products under the group’s umbrella despite higher production costs attributed to rising oil prices.

He said the company would instead opt to reduce operation costs in other areas.

Mr. Karn conceded the firm’s decision to maintain its cement price levels was in part due to concerns over slow consumer spending and a sluggish property market.

However, the Siam Cement chief said, the export potential looks bright since the demand in the world market remains high.

Last year, the company exported nearly 7 million tonnes of cement.

In the first three quarters of this year, the firm had already exported almost as much as in the last entire year — over 6.1 million tonnes of cement — and was confident that exports for the whole of this year will be more than 7.5-8 million tonnes.

Cement magnate Karn said prices of cement for export markets are determined according to global prices and competition. So, the company must raise its prices when prices in the world market increase.

<<FnWeb.com — 10/26/07>>