Thai conglomerate SCG dominates Vietnam's plastic production industry

SCG headquarters in Bang Sue District, Bangkok, Thailand. — Photo courtesy of SCG

HANOI (Vietnam News/ANN): After buying Duy Tân Plastic Corporation, Thailand’s Siam Cement Group (SCG) is cementing its domination of Vietnam's plastic production industry.

Under the contract signed on Feb 9 via a virtual conference, Duy Tân will sell 70 per cent of its shares in five of total twenty-two subsidiary companies, including Duy Tân Plastic Manufacturing Corporation and Duy Tân Long An Corporation, to SCG’s SCG Packaging, Duy Tân said.