PERSTORP, SWEDEN (Nov. 22, 11:20 a.m. ET) — European specialty chemicals producer Perstorp and Thailand-based PTT Global Chemical are planning a joint venture to make and sell aromatic and aliphatic isocyanates into the polyurethane industry.
The isocyanates are toluene diisocyanate and aliphatic IPDI, HDI — isophorone, hexamethylene diisocyanate and derivatives). The venture would include the former Perstorp Business Group Coating Additives and its plants in Freeport, Texas, and Pont-de-Claix in France, the company's said. PTT Global Chemical PTT GC will have 51 percent of the shares and Perstorp 49 percent.
Perstorp said the joint venture will invest in new manufacturing capacities and facilities to capitalize on the fast-growing polyurethane market. In addition, the partnership plans to invest further in research and development and improve operational efficiency.