Thailand's PTT to invest in new PMMA unit; starts new subsidiary

03 June 2013 09:49  [Source: ICIS news]

SINGAPORE (ICIS)--Thailand’s PTT is planning to invest in a new 40,000 tonne/year polymethyl methacrylate (PMMA) plant through a newly established entity named PTT PMMA Co, the company said on Monday.

“[The] board of directors of PTT has passed the resolution on the approval to establish PTT PMMA Company Limited with registered capital of Thai baht (Bt) 660m ($21.8m),” the company said in a filing to the Stock Exchange of Thailand.

PTT PMMA Co will be wholly owned by PTT, the company said.

The plant’s methyl methacrylate (MMA) feedstock will be supplied from PTT Asahi Chemical (PTTAC), it said.

PTTAC, which produces 70,000 tonnes/year of MMA at its production site at Map Ta Phut in Thailand’s Rayong province, began full-scale commercial operations in January this year.

($1 = Bt30.3)

By: Nurluqman Suratman

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