Thai government approves merger of NSM and SICOS

Thai government approves merger of NSM and SICOS

The planned merger between Nakornthai Strip Mill and Siam Integrated Cold Rolled Steel has received approval from the Thai Asset Management (TAMC) and the government. Siam Integrated Cold Rolled Steel is owned by Somsak Laeswadtrakul who at the same time owns Siam Strip Mill. According to reports, the annual hot rolled steel production capacity of Nakornthai Strip Mill is 1.5 million tons but it has not been operating since 1997 due to the economic crisis. The completion of the merger is expected towards the end of this year.