Perstorp and PTT Global Chemical Sign JV Agreement
GRENOBLE, France - At a ceremony in Grenoble, France, specialty chemicals company Perstorp and PTT Global Chemical signed an agreement forming a joint venture dedicated to the manufacturing and sales of aromatic (TDI) and aliphatic (IPDI, HDI and derivates) isocyanates. The agreement includes the former Perstorp Business Group Coating Additives with its manufacturing sites at Pont-de-Claix, France, and Freeport, TX. PTT Global Chemical (PTTGC) will hold 51 percent of the joint venture and Perstorp 49 percent.
“We believe in a promising future for polyurethanes. Perstorp’s expertise in manufacturing, R&D, sales and marketing of isocyanates, coupled with PTTGC’s position as a major Asian chemical player, gives the joint venture a unique opportunity to establish leading positions in the worldwide polyurethane market,” said Veerasak Kositpaisal, PTT Global Chemical’s CEO, and Martin Lundin, Perstorp’s President and CEO.