Perstorp and PTT Global Chemical agree isocyanates joint venture

22 December 2011 14:20  [Source: ICIS news]

LONDON (ICIS)--Perstorp and Thailand-based PTT Global Chemical (PTTGC) have agreed to form a joint venture to manufacture toluene di-isocyanate (TDI) and aliphatic isocyanates for the polyurethane (PU) industry, the Sweden-based specialty chemicals company said on Thursday.

The joint venture includes the former Perstorp business group Coating Additives, with its manufacturing sites at Pont-de-Claix in France and Freeport in the US.

PTTGC will hold 51% of the joint venture, with Perstorp holding the remaining 49%, Perstorp said in a statement.

The statement added: “Perstorp’s expertise in manufacturing, research and development, 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.”

The joint venture also plans to invest in a new joint plant for hexamethylene diisocyanate (HDI) derivatives in Asia, said Perstorp.  

Capacity details and financial figures for the joint venture were not immediately disclosed.

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

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By: Leigh Stringer
+44 208 652 3214

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