Specialty chemical company Perstorp Holdings AB has announced that following a major extension at its main plant in Stenugsund, Sweden, it has begun production of raw materials for plasticizers, with production of prime material to follow shortly.
Cecilia Svensson, a spokesperson for Malmö. Sweden-based Perstorp, told European Plastics News: “The investment in the new Oxo plant amounts to 1 billion Swedish krona ($117.1 million) and is the single largest investment in the history of the company.”
The plant will boost its total Oxo capacity by 150,000 metric tons per year and will make Perstorp a fully integrated suppliers of plasticizers, the company states.
Magnus Lannér, Perstorp's new executive vice president of operations, said in a statement: “The new Oxo plant, which produces aldehydes and derivatives, is a testament to the company's commitment to the PVC industry. This will greatly strengthen Perstorp's reliability for its plasticizers offer to the market, by upstream integration into their essential raw materials.”
In 2012 Perstorp had sales of over 10 billion Swedish krona ($1.17 billion) and currently employs around 1,500 people in 22 countries. It has production plants in Europe, Asia and North America.