Perstorp and PTT Global Chemical complete formation of strategic joint venture for products delivered to the polyurethane industry
Perstorp announced the transactional closing and set up of the joint venture with Thailand’s chemical producer PTT Global Chemical for the manufacturing and sales of products for the polyurethane industry. PTT Global Chemical holds 51% and Perstorp 49% of the new joint venture, named VENCOREX TM Holding.
The agreement between Perstorp and PTT Global Chemical was signed on May 31, 2012. The joint venture, dedicated to the manufacturing and sales of aromatic (TDI) and aliphatic (IPDI, HDI & derivates) isocyanates, includes the former Perstorp Business Group “Coating Additives” with its manufacturing sites at Pont-de-Claix in France and Freeport in the USA. PTT Global Chemical holds 51% of the joint venture and Perstorp 49%. The joint venture will operate under the name VENCOREX Holding. At locations where VENCOREX does not have its own sales staff, Perstorp’s existing sales organization will continue to sell and market VENCOREX products and solutions to its customers, through a joint decision.
”We are very pleased to announce the formation of our joint venture today. VENCOREX with its unique range of products to the polyurethane industry, has an exciting future and the strength the two joint venture partners bring to the table will help propel VENCOREX to an even better position, ultimately bringing better solutions for our joint customers around the world,” say Mr. Anon Sirisaengtaksin, PTT Global Chemical’s CEO and Martin Lundin, Perstorp’s President and CEO.
The partnership emphasizes to invest further in cutting-edge research and development, as well as improving operational efficiency to strengthen competitiveness and increase its market offering in Asia.
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