29 March 2011 16:55 [Source: ICIS news]
NUREMBERG, Germany (ICIS)--Perstorp will extend its capacity for hexamethylene diisocyanate (HDI) derivatives by establishing production at the group’s manufacturing unit in ?xml:namespace>
Martin Lundin, speaking on the sidelines of the European Coatings Show 2011 in
He said that Perstorp wants to be one of the top three firms in terms of market share within 85% of the markets it does business in.
“We should be either number one, two or three. If not, something is wrong and we should be striving to become it,” he said.
“We want to strengthen our position on the Asian market, with production of specialty products in the region. It allows us to fully utilise the potential that our site in
Production of Perstorp's HDI derivatives in Singapore is planned to start up in 2012.
“This decision is fully in line with the HDI and derivative strategy announced last year, with the need to extend HDI derivative capacity and establish ourselves with production of 12,000 tonnes/year in
Eric Aubay, vice president with Perstorp's HDI and derivatives, said: “Yearly average market growth for HDI and derivatives is around 6%. In a fast-growing market, a presence in
Lundin said Perstorp’s main strategy is now to consolidate the acquisitions and investments it made in the last four years and work on efficiency programmess in order to improve its financial position.
In January, Perstorp acquired US producer
“I think you will see a lot of focus on organic growth for 2011 and making sure we capture the market synergies that exist in the various technical platforms that we have in the group,” he said.
The CEO also ruled out the possibility of any big acquisitions during the rest of 2011. He added that if anything were to happen, it would most probably be a deal with bolt-on companies that fit Perstorp's future strategy.
“Maybe towards the end of 2011 there will be an increased focus on
Lundin also said that Perstorp's aim to double the capacity of its caprolactones production plant at Warrington, UK, is still on track, with the unit coming on stream in the summer of 2011.
($1 = €0.71)
For more on Perstorp visit ICIS company intelligence
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections