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PTT restructuring delayed again

July 22/2010

(plastemart) -- The PTT Groups plan to merge its refining and petrochemical units to create synergy and improve cost efficiency has been on the planning board for over a year. Plan for consolidation is facing further delays as a number of legal issues need serious discussion. The first phase is expected to focus on PTT Aromatics and Refinery, the country's largest integrated aromatics refinery, which is 49% owned by PTT, and IRPC, 36% owned by PTT.

 

The merger would create Asia's eighth-largest oil refiner, but is faced with concern related to outstanding lawsuits lodged by Prachai Leophairatana, the founder of Thai Petrochemical Industry, which PTT acquired in a debt restructuring.

 

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PTT restructuring delayed again

 

 

 

 

 

 

 

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