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PTT Global Chemical to buy Perstorp out of Vencorex PUs JV

4:00 AM MDT | July 10, 2014 | Natasha Alperowicz

CW has learned that PTT Global Chemical (PTTGC; Bangkok), Thailand’s largest chemicals company, is seeking to buy its partner Perstorp out of their polyurethanes (PUs) joint venture Vencorex. PTTGC, which has a 51% share in Vencorex, has notified the European Commission that its Netherlands subsidiary wants to acquire full ownership. PTTGC acquired its 51% stake in Perstorp’s PU business for €114.8 million ($142.0 million) in July 2012, and the partners renamed the business Vencorex Holding. The company produces aromatic and aliphatic...

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