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Perstorp and PTT Global Chemical to create a JV for production and sales of TDI

November 24/2011

(PlastEurope) -- Perstorp (Perstorp/Sweden) and PTT Global Chemical (PTT GC, Bangkok/Thailand) intend to create a joint venture for the worldwide production and sales of TDI and aliphatic isocyanates. Perstorp said the venture will include its former coating additives business, with its manufacturing sites in Pont-de-Claix / France and Freeport, Texas / USA. The venture also plans to invest in new manufacturing facilities to meet rising demand from the global PU industry.

PTT GC will own a 51% stake in the joint venture and Perstorp will own the remaining 49%. The Thai group said in a regulatory filing that it will invest EUR 114.8m to acquire the 51% stake.

Vanchai Tadadoltip, executive vice president of specialty chemicals at PTT GC, 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. The venture will focus on TDI and the aliphatic isocyanates isophorone diisocyanate (IPDI), hexamethylene diisocyanate (HDI) and derivatives.

Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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