BRUSSELS, Belgium — Specialty chemicals supplier allnex announced that the company is becoming part of PTT Global Chemical Public Co. Ltd. (GC). The sale of allnex is expected to close in the fourth quarter of 2021, subject to regulatory approvals.
As a leading industrial coating resins company, present on four continents and serving customers in over 100 countries, becoming a part of GC will give allnex the opportunity to further expand its presence in emerging markets through additional investments. GC is a strategic long-term investor and will improve allnex’s reach to the Asia-Pacific region while at the same time GC can benefit from allnex’s existing global footprint. With its leading green technology portfolio and R&D network, allnex will support GC’s commitment to environmentally friendly innovations and advanced technologies. Together, allnex and GC will address key sustainability challenges in the global market.
GC is a multinational chemical company based in Thailand. The company delivers high-quality chemical products to a wide range of customers. GC’s portfolio includes the manufacturing and distribution of upstream, intermediate and downstream petrochemical products for industries such as packaging, textiles and automotive. The company is a subsidiary of PTT Group, a multinational energy company in Thailand and a Fortune Global 500 company. GC is committed to strengthening its leading position in the chemicals business by combining environmentally friendly innovations with advanced technologies.
Miguel Mantas, CEO of allnex, said, “We are proud of the success we have had in building allnex into a global player and are very grateful to Advent for its strong support and excellent partnership over the past years. In order to build on our leading market position, we will continue to invest in innovative technologies and look to expand our presence in APAC. With its resources, industrial network and expertise, PTT Global Chemical will represent an extraordinary opportunity to take the next steps in the development of our business.”
Learn more about allnex at https://allnex.com/en.