PTT GC, Perstorp form isocyanates manufacturing joint venture

PTT GC, Perstorp form isocyanates manufacturing joint venture

9:43 PM, 21st November 2011
PTT GC, Perstorp form isocyanates manufacturing joint venture
Martin Lundin, President and CEO, Perstorp.

PERSTORP, SWEDEN: PTT Global Chemical (PTT GC) and Perstorp will form a joint venture for manufacturing and sales of aromatic (TDI) and aliphatic (IPDI, HDI & derivates) isocyanates, serving the polyurethane industry. PTT Global Chemical will retain 51 per cent of the joint venture shares and Perstorp having 49 per cent. The formation of the joint venture is subject to employee consultations in accordance with national legislations.

The planned joint venture includes former Perstorp Business Group “Coating Additives” with its manufacturing sites at Pont-de-Claix in France and Freeport in the US. “We believe in a promising future for polyurethanes. Perstorp’s expertise in manufacturing, sales and marketing of isocyanates, coupled with PTT GC’s position as a major Asian chemical player provide a unique opportunity to establish leading positions in the worldwide polyurethane market,” said Veerasak Kositpaisal, CEO, PTT Global Chemical and Martin Lundin, President and CEO, Perstorp.


Veerasak Kositpaisal, CEO, PTT Global Chemical

The joint venture plans to invest in new manufacturing capacities and facilities to capitalize on the worldwide fast growing polyurethane market. Additionally, the JV will invest in cutting-edge R&D as well as improving operations efficiency to strengthen competitiveness and increase market offerings. “Establishing the JV between Perstorp and PTT GC will provide a key strategic entry point for PTT GC to further diversify its product portfolio in specialty chemicals. Development of a diversified product portfolio is a clear strategy for PTTGC to become a market leader in the specialty chemicals business,” said Vanchai Tadadoltip, Executive VP, Specialty Chemicals Business Unit, PTT GC.

(C) WOC News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Lanxess expands high-performance rubber capacities as demand grows

  LEVERKUSEN, GERMANY: Lanxess is a premium supplier of Nd-PBR and SSBR rubbers to leading tire manufacturers in Japan and South Korea. The comp ...

Read more
Air Liquide, Sinopec form joint venture for gas supply

PARIS, FRANCE: Air Liquide and Sinopec (China Petroleum and Chemical Corporation) have agreed on the supply of gaseous oxygen and nitrogen to Maoming ...

Read more
Arkema buys two Chinese firms, Hipro Polymers and Casda Biomaterials

  COLOMBES, FRANCE: Arkema to acquire Chinese companies Hipro Polymers, a fast-expanding producer of biosourced polyamide 10.10 and Casda Biomat ...

Read more
Haldor Topsoe appoints Dr Bjerne S Clausen as new CEO

LYNGBY, DENMARK: Since September 2007, Haldor Topsoe CEO, Niels Kegel Sorensen has handed in his resignation from his position. The board has accepted ...

Read more
Explosion at Shandong Liaherd Chemical plant in China kills 14

  BEIJING, CHINA: Fourteen workers were killed and five more injured Saturday in a chemical plant explosion in east China’s Shandong Provi ...

Read more
Study of 22nd amino acid - pyrrolysine

  GARCHING, GERMANY: Proteins are key players in many vital processes in living organisms. They transport substances, catalyze chemical reaction ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X