Thai NPC may revive TOC merger talks
10 June 1999 04:43 [Source: ICIS news]
SINGAPORE (CNI)--Thailand's National Petrochemical Co (NPC) is considering reviving merger talks with Thai Olefins (TOC) as part of a wider plan to restructure the nation's petrochemical industry, an NPC source told CNI Thursday.
The source said NPC will submit its plan to Petroleum Authority of Thailand (PTT), but declined to give further details. PTT has equity in both NPC and TOC.
Previous attempts to merge the two olefins companies fell through, because officials from both sides argued that it would be a difficult process given NPC's status as a listed company. TOC is unlisted.
Another stumbling block: NPC is gas-based, and TOC uses naphtha as its main feedstock.
The source stressed that the merger would not affect NPC's downstream ambitions, and would be in line with the Thai government's strategy to help lift the struggling petrochemical industry.
By: Leslie Chua
+65 6780 4359
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