Perstorp and PTT Global Chemical plan polyurethane joint venture

21 November 2011 14:12  [Source: ICIS news]

LONDON (ICIS)--Perstorp plans to launch a joint venture (JV) with Thailand-based PTT Global Chemical to manufacture toluene di-isocyanate (TDI) and aliphatic isocyanates to supply the polyurethane (PU) industry, the Sweden-based specialty chemicals company said on Monday.

Perstorp said the planned JV includes the company's former business group, Coating Additives, and its manufacturing sites at Pont-de-Claix in France and Freeport in the US. It added that PTT Global Chemical (PTT GC) will retain 51% of the JV’s shares and Perstorp will hold the remaining 49%.

The JV will invest in new manufacturing capacities and facilities to capitalise on the global fast-growing PU market, the company said.

“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,” Vanchai Tadadoltip, executive vice president of specialty chemicals at PTT Global Chemical, said.

Investment figures were not disclosed.

Isocyanates are used as hardeners in coatings and raw materials in elastomers and foam products.

By: Leigh Stringer
+44 208 652 3214

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