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    SELIC   TH7533010008

SELIC CORP

(SELIC)
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End-of-day quote Stock Exchange of Thailand  -  2022-08-14
3.440 THB   +1.18%
08/15SELIC : Submission and Publication of the Minutes of the Extraordinary General Meeting of Shareholders No. 1/2022
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08/15SELIC : Notification of the Change of Company Secretary
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08/11SELIC PUBLIC : The resolution of Extraordinary General Meeting of Shareholders No. 1/2022
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3M to exit Neoplast, Neobun brands in Southeast Asia

07/01/2022 | 12:59am EDT
FILE PHOTO: The 3M Global Headquarters in Maplewood, Minnesota

(Reuters) - Industrial conglomerate 3M Co said on Friday it will exit its Neoplast and Neobun brands in Thailand and some other Southeast Asian countries, and sell manufacturing assets at its Ladlumkaew plant, as part of its strategic portfolio management.

The brands -- part of the company's Consumer Health and Safety Division (CHSD) -- and the assets from its Thailand-based Ladlumkaew plant will be sold to Selic Corp PCL, 3M said.

The St. Paul, Minnesota-based company did not disclose the terms of the deal, but said the sale will not have a material impact on its financial results.

"As part of ongoing strategic portfolio management, 3M has decided to exit these brands and prioritize other areas within its Consumer Health & Safety Division," 3M said.

Neoplast makes surgical tapes, dressings and first aid bandages, while Neobun makes menthol plasters for muscle pain.

The brands are sold primarily in Thailand and Southeast Asia and were a part of 3M's larger CHSD that includes sports and medical tapes, bandages and medicated products for the consumer and healthcare industry, according to the company.

3M also said its plan to sell the Ladlumkaew plant will impact about 250 employees in the country, and the affected employees are eligible for severance and outplacement assistance.

The U.S.-based company had acquired Neoplast in 2007.

(Reporting by Ann Maria Shibu in Bengaluru; editing by Uttaresh.V)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
3M COMPANY -0.53% 151.43 Delayed Quote.-14.75%
SELIC CORP 1.18% 3.44 End-of-day quote.17.83%
All news about SELIC CORP
08/15SELIC : Submission and Publication of the Minutes of the Extraordinary General Meeting of ..
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08/15SELIC : Notification of the Change of Company Secretary
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07/013M to exit Neoplast, Neobun brands in Southeast Asia
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Financials ()
Sales 2021 1 461 M - -
Net income 2021 81,5 M - -
Net Debt 2021 406 M - -
P/E ratio 2021 17,5x
Yield 2021 0,17%
Capitalization 1 727 M 48,7 M -
EV / Sales 2020 0,88x
EV / Sales 2021 1,28x
Nbr of Employees -
Free-Float 22,9%
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Managers and Directors
Yuwadee Aiamsontisup Chief Executive Officer
Sethaporn Sundaravibhata Chief Accounting & Financial Officer
Athavudhi Hirunburana Chairman
Evan Chu Chief Research & Development Officer
Kiattisak Suwatthanaphim Chief Operating Officer