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Business
Perstorp, PTT Form Isocyanates Venture
by Marc S. Reisch
November 28, 2011
| A version of this story appeared in
Volume 89, Issue 48
Sweden’s Perstorp and Thailand’s PTT Global Chemical plan to launch an isocyanates joint venture. Perstorp will contribute plants in Pont-de-Claix, France, and Freeport, Texas, and hold a 49% interest. PTT will pay Perstorp $155 million for 51% of the venture. The partners say they will invest in new plants for the polyurethane raw materials. Earlier this year, PPT made a $150 million investment in polylactic acid maker NatureWorks and a $60 million investment in succinic acid maker Myriant Technologies.
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