BIGBLOC CONSTRUCTION LIMITED and SCG INTERNATIONAL CORPORATION CO. LTD (SCG) announce the signing of an MOU for the purpose of marketing AAC Panels & other building materials. The Company's objective is to promote mutual growth and business expansion in global construction markets.
A Joint Collaboration between BIGBLOC and SCG, is to do joint market survey & premarketing of AAC Panels in India. Through this collabaration, BIGBLOC expects to create foundation for its business development in the new product Autoclaved Aerated Concrete Panel (AAC Panel), along with other products as well, with the help of SCG as it shall begin the pre-marketing phase of SCG's products.
Under the agreement, BIGBLOC and SCG will share product knowledge, technical support, solutions designing and techno-commercial offerings in order to utilize the best of both Companies.
BIGBLOC, a significant player in construction market of the western region of India, has committed to render its expertise, technologies and sales & marketing channels in India as a contribution to the joint venture's activities and progress. The Company will provide its business networks such as architects, contractors, applicators, and project developers/owners, to promote and distribute SCG's products. India is a promising market for construction related products, it holds even more potential in recent times on the back of Government's stimulus to infrastructure segment with an intent to support the contracting GDP. Both BIGBLOC and SCG are going to launch marketing activities for their products in due course together in India.
Mr. Narayan Saboo, Chairman, BIGBLOC Construction Limited was quoted as saying, "We are absolutely elated to announce our inaugural joint collabaration with Siam Cement Group (SCG) with the purpose of entering newer markets and expanding ourselves with our diversified product lines. We are the leading manufacturer of AAC Blocks in India and AAC Panels is a new age building material which will further enhance speed and quality of construction. We are fully capable to cater more demand and hence we look forward to scale up by further promoting our product basket. SCG is without a doubt the best for the purpose since it is one of the largest cement and building material companies in Thailand and Southeast Asia. We look forward for the success of this wonderful opportunity which is mutually beneficial for both of our businesses."
Shares of Bigbloc Construction Limited was last trading in BSE at Rs. 112.85 as compared to the previous close of Rs. 112.85. The total number of shares traded during the day was 922 in over 27 trades.
The stock hit an intraday high of Rs. 113.65 and intraday low of 109.95. The net turnover during the day was Rs. 101913.