PTT GC, Perstorp form products JV polyurethane industry

PTT GC, Perstorp form products JV for polyurethane industry

11:36 PM, 22nd December 2011
PTT GC, Perstorp form products JV for polyurethane industry
Martin Lundin, CEO and President, Perstorp.

 

GRENOBLE, FRANCE: Perstorp and PTT Global Chemical formed a joint venture (JV) for worldwide manufacturing and sales of products for the polyurethane industry. The JV dedicated to manufacturing and sales of aromatic and aliphatic isocyanates, includes the former Perstorp Business Group “coating additives” with its manufacturing sites at Pont-de-Claix in France and Freeport in the US. PTT Global Chemical (PTTGC) will hold 51per cent of the joint venture and Perstorp 49 per cent.

“We believe in a promising future for polyurethanes. Perstorp’s expertise in manufacturing, R&D, sales and marketing of isocyanates, coupled with PTTGC’s position as a major Asian chemical player, gives the joint venture a unique opportunity to establish leading positions in the worldwide polyurethane market,” said Veerasak Kositpaisal, CEO, PTT GC and Martin Lundin, CEO and President, Perstorp.

The joint venture is planning a major investment to strengthen competitiveness, R&D and increase market offerings and includes both expanded capacity at the manufacturing plant in Pont-de-Claix, France and new capacity in Asia. To begin with, this includes investment in a new joint plant for hexamethylene diisocyanate (HDI) derivatives in Asia. As part of the investment scheme, Perstorp has also entered an agreement with the French government regarding the measures to be introduced that meet the French PPRT law, measures which are also supported by PTTGC.

© WOC News

 

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