Perstorp, PTTGC complete set-up of isocyanates joint venture

01 June 2012 09:46  [Source: ICIS news]

SINGAPORE (ICIS)--Sweden’s Perstorp announced on Friday that it has completed setting up its isocyanates joint venture with Thailand’s PTT Global Chemical (PTTGC).

The new joint venture, called VENCOREX Holding, is 51%-owned by PTTGC and 49%-owned by Perstorp, the Swedish company said in a statement.

VENCOREX will be dedicated to the manufacturing and sales of products for the polyurethane (PU) industry, such as toluene diisocyanate (TDI) and aliphatic isocyanates – hexamethylene diisocyanate (HDI) and isophorone diisocyanate (IPDI) and derivatives.

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

The joint venture includes the former coating additives business of Perstorp that has manufacturing sites at Pont-de-Claix in France and Freeport in the US.

“The partnership emphasizes to invest further in cutting-edge research and development, as well as improving operational efficiency to strengthen competitiveness and increase its market offering in Asia,” Perstorp said in the statement.

PTTGC is the flagship petrochemical company of Thailand's oil and gas giant PTT.

By: Pearl Bantillo
+65 6780 4359

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