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PTTGC, Dynachem to collaborate on PP compounding in Thailand

August 10/2020

MOSCOW (MRC) -- Dr. Kongkrapan Intarajang, Chief Executive Officer of PTT Global Chemical Public Company Limited, or GC, announced the signing of a shareholders agreement with Dynachem (Hong Kong) Limited, or Dynachem, a compound engineering plastic resin distributor and compound manufacturer, to hold a 41.5% share in Dynachisso Thai Co., Ltd. (DYCT), as per PTTGC's press release.

This is aligned with GCs Step Change strategy to improve the companys competitiveness in the Southeast Asian region by focusing on providing value-added products to meet the various requirements of its customers, and also supports GCs policy on growing sustainably through valuable collaborations with strategic partners.

Mr. Patiparn Sukorndhaman, President of GC, said, The collaboration with Dynachisso Thai to produce polypropylene (PP) compounds serving various industry platforms will rapidly enhance GC Groups market expansion in the automotive and E&E industries. Furthermore, this collaboration will result in having high value products (HVPs) for PP resins and fully meet the needs of customers in both regional and global markets, especially in Thailand, China, and SEA.

Mr. Michael Tang, Managing Director of Dynachisso Thai Co., Ltd. said, It is a great opportunity for us to collaborate with GC in the PP compound business, which is mainly used in producing parts in the automotive, transportation, logistics, and E&E sectors. This material can be also used as a part of electronic devices in digital technology (5G), providing an important foundation to further drive the economy.

Both parties expect to finalize the deal in the third quarter of 2020.

PP compounds possess improved properties due to the addition of additives such as short glass fiber, long glass fiber, mineral filler, synthetic rubber or impact modifiers to the PP resin. PP compounds are used in automobile and motorcycle parts manufacturing such as consoles and bumpers as well as electrical appliance covers.

Dynachisso Thai, located in the Amata Industrial Estate in Chonburi Province, has an installed capacity of 30,000 tons per year.

As MRC reported earlier, in July, 2020, state-owned Thai oil and gas company PTT Pcl said its US unit took a step forward on its proposed chemical plant in Ohio that will turn ethane into plastics with an agreement to develop a natural gas liquids storage facility. PTT Global Chemical America (PTTGCA) signed an agreement with Energy Storage Ventures LLC to build a facility to store and transport natural gas liquids (NGL) for PTTGCA's proposed complex.
And in June, PTTGCA said it delayed making a final investment decision to build the ethane cracker, which analysts estimate will cost USD5.7 billion, from the first half of 2020 to the first half of 2021 due to the coronavirus.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's DataScope report, PE imports to Russia dropped in January-June 2020 by 7% year on year to 328,000 tonnes. High density polyethylene (HDPE) accounted for the main decrease in imports. At the same time, PP imports into Russia rose in the first six months of 2020 by 21% year on year to 105,300 tonnes. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.

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.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, homopolymer PP, propylene, HDPE, ethylene, compounding, petrochemistry, PTT Chemical, Russia, USA, Thailand.
Category:General News
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