CMAN Invests ฿928m in “Ha Long Qn Lime”, Aiming to be the World’s Leading Lime Producer

Chememan Public Company Limited (CMAN) has approved NORTHMAN CO., LTD. (NORTHMAN), a wholly-owned subsidiary incorporated in Vietnam, to invest in Ha Long Qn Lime Company Limited, Vietnam by purchasing 80% portion of the capital contribution from the existing owners and invest additional portion in Ha Long Qn Lime Company Limited and/or provide financial assistance to Ha Long Qn Lime Company Limited to be used as working capital and/or for maintenance of existing assets and/or acquiring additional assets to support the production capacity expansion and the growth according to the business plan of the Target Company.
The total investment shall not exceed THB 928.5 million. After the investment transaction, Ha Long Qn Lime Company Limited shall become a direct subsidiary of NORTHMAN and an indirect subsidiary of CMAN. 

The sources of the fund shall come from CMAN’s working capital and the loan from financial institutions. The main source of the fund shall be a loan from financial institutions, in which the terms and conditions of the loan agreements have no significant negative impact on the Company’s shareholders.

According to the investment, CMAN aims to be the world’s leading lime producer. The production capacity expansion to appropriate locations both in Thailand and overseas enables CMAN to expand the customer base into new markets, bringing along continuous revenue. In addition, the production capacity expansion to Vietnam shall help to increase the distribution centers for more efficient logistics management, with target customers located in East Asia, and ASEAN countries, leading to transportation cost savings.