Siam Steel Service Center Plc., the affiliate of the Siam Steel Group, was established as a Thai - Japanese joint venture on September 30, 1985 under the investment between Siam Steel International Plc., and Japanese investors - Okaya & Co., Ltd., Mitsubishi Corporation and Toyota Tsusho Corporation.
The Okaya & Co.,Ltd., as the Company's majority Shareholder, holds 28 percent of the share capital. Okaya & Co.,Ltd., is a dealer for steel, machinery, pipe and chemical product. It has no marketing or customer base or running the same business as company in Thailand.
The Company increased its capital from Bath 100 million to 224 million. The transaction was approved and registered with the Ministry of Commerce on 18 May 1994
The Company was transformed to a public company under the name of Siam Steel Service Center Public Company Limited. The par value was changed from Baht 100 per share to Baht 10 per share. Meanwhile the registered capital was increased from Baht 224 million to Baht 320 million. The approval and registration with the Ministry of Commerce was made on 8 June 1994.
The Company expended by establishing factory no.3 in Zone no.3 of Eastern industrial Park located in Rayong Province. The construction started in early 1994 and the production and distribution of product commenced in the forth quarter of 1995. The Company received the highest incentives from BOI.
The Company founded and invested in Siam Nippon Steel Pipe Co., Ltd., which is the manufacturer of special steel pipe for several kind of industries, focusing on auto part industries and downstream industries. The investment proportion was at 6% or Baht 7.32 million. The Company was granted the approval from the SEC to distribute 9.6 million common shares to public at the price of Baht 120 per share during 10 - 13 October 1995.
SET listed the Company which allows to trade the Company shares under the name "SSSC" since 15 January 1996.
The Company has been certified the quality system ISO 9001: 2000 and ISO 14001: 2004 from RWTÜV [Thailand] Limited on 25 November 2003 and 26 August 2005 respectively. Its certification assures that the Company has established and applies an environmental management system for:
1. Slitting for Steel Coils and Cutting of Steel Sheets.
2. Blanking, Forming and Bending of Furniture Parts, Electrical Appliance Parts, Automotive Parts and Construction Parts.
3. Production of Steel Roofing, Siding, Ceiling, Flooring Panel and Accessory parts.
At the ordinary shareholder meeting held on 28 April 2006, the shareholder passed a resolution to increase the capital as follow;
To increase the Company's authorized share capital by Baht 160,000,000 from Baht 320,000,000 [divided into 32,000,000 shares at Baht 10 per value] to Baht 480,000,000 [divided into 48,000,000 shares at Baht 10 per value], to reserve for stock dividend payment to existing shareholder of the Company.
The Company had already registered the increase in share capital with the Ministry of Commerce on 1 May 2006 and registered the paid up capital totaling Baht 479,999,910 on 18 May 2006. The SET registered the transaction of the capital increments since 30 May 2006 which allows the Company to trade its shares in the security market.
In June 2006, the Company has joint invested with the Okaya & Co., Ltd. [Japan] to set up Siam Steel Vietnam Company Limited to cater for an increasing demand of construction industries which has been invested by foreign companies, particularly from Japan.
The Company has been certified the Occupational Health and Safety Management System 18001: 1999 from TÜV NORD [Thailand] Limited on 11 June 2007.
At the Ordinary Shareholder's Meeting held on 30 April 2009, the shareholders passed the resolutions to decrease the capital, and increase the capital and to pay dividends as follows:
- To decreased its registered share capital by canceling 9 unissued share at Baht 10 par value, totaling Baht 90 from the existing registered share capital of Baht 480,000,000 to Baht 479,999,910 [divided into 47,999,991 common shares at Baht 10 par value]
- To increase the Company's authorized share capital by Baht 159,999,970 from Baht479,999,910 [divided into 47,999,991 shares at Baht 10 par value] to Baht 639,999,880 [divided into 63,999,988 share at Baht 10 par value],to reserve for stock dividend payment to existing shareholder of the Company.
The Company had already registered the decrease and increase in share capital with the Ministry of commerce on 4 May 2009 and 6 May 2009, respectively. The SET registered the transaction of the capital increments since 4 June 2009 which allows the Company to trade its share in the security market.
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