PTT Global Chemical and Perstorp Form Isocyanates JV

PTT Global (Bangkok) has reached a deal to acquire a 51% stake in Perstorp’s isocynates business for €114.8 million ($153 million) as part of the formation of a joint venture between the two companies. The jv will make toluene diisocyanate (TDI), isophorone diisocyanate (IPDI), hexamethylene diisocyanate (HDI) and derivatives. The planned jv includes the former coating additives business of Perstorp with manufacturing sites at Pont-de-Claix, France; and Freeport, TX. The jv plans to invest in manufacturing “to capitalize on the fast growing...

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