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Perstorp and PTT Global Chemical Sign JV Agreement; Plan Major Investment in Asia

8:37 AM MST | January 4, 2012 | Deepti Ramesh

Perstorp says it has today signed an agreement with PTT Global Chemical (Bangkok) for their previously announced isocynates joint venture. PTT Global reached an agreement last month to acquire a 51% stake in Perstorp’s isocynates business for €114.8 million ($149 million). The jv includes the former coating additives business of Perstorp, which has manufacturing sites at Pont-de-Claix, France; and Freeport, TX. The jv will produce toluene diisocyanate (TDI), isophorone diisocyanate (IPDI), hexamethylene diisocyanate (HDI), and derivatives. PTT Global...

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