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PTTGC on lookout to acquire specialty polymer assets

June 04/2020

MOSCOW (MRC) -- PTT Global Chemical (PTTGC), Thailand's largest petrochemical maker, is planning to acquire new assets related to specialty polymer production during the recession, said Bangkokpost.

President and chief executive Kongkrapan Intarajang said yesterday that the company foresees a decline in asset value in the coming year, so it will consider asset acquisitions around the globe.

He did not specify regions or name firms. Many specialty polymer makers are suffering from a lack of liquidity during the coronavirus pandemic because purchase orders have dropped significantly.

"The new assets we plan to acquire will enhance our competitiveness and add value to existing downstream petrochemical products," Mr Kongkrapan said.

As MRC informed earlier, PTT Global Chemical Public Co Ltd (PTTGC) has shut its one of HDPE units for a planned maintenance since  25 May 2020. Based in Map Ta Phut, Thailand, the HDPE plant is having a production capacity of 300,000 tons/year. The HDPE plant is expected to remain offstream until 9 June 2020. Meanwhile the other 200,000 tons/year HDPE plant is still operating.

According to MRC's ScanPlast report, April estimated HDPE consumption in Russia fell to 69,130 tonnes from 78,220 tonnes a month earlier. ZapSibNeftekhim significantly increased its export sales to China. Overall HDPE imports to the Russian market totalled 377,450 tonnes in the first four months of 2020, which corresponds to the last year's figure. Production increased significantly, and exports also grew by 5 times.

PTT Global Chemical is a leading player in the petrochemical industry and owns several petrochemical facilities with a combined capacity of 8.45 million tonnes a year.
Author:Anna Larionova
Tags:petroleum products, PE, HDPE, petrochemistry, PTT Chemical.
Category:General News
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