GC and Cargill authorize construction of a new integrated biopolymer production facility in Thailand reinforcing their global leadership in Sustainability and Supporting the BCG Economy model bday.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bday.net Daily Mail and Mail on Sunday newspapers.
Reinforcing Their Global Leadership in Sustainability and Supporting the BCG Economy Model BANGKOK, Aug. 10, 2021 /PRNewswire/ GC International Corporation
NatureWorks Passes Final Authorization Milestone for New Fully Integrated Ingeo PLA Manufacturing Plant in Thailand apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
Thailand-based PTT Public Company Limited s (BBB+/AAA(tha)/Stable) petrochemical and power acquisitions, which form part of its energy transition plan, will enhance the group s geographic and business diversification, Fitch Ratings says. The acquisitions will drive up PTT s financial leverage over the next two years, but the current low financial leverage should provide headroom to absorb the investments.
PTT s subsidiary, PTT Global Chemical Public Company Limited (PTTGC, AA+(tha)/Negative), plans to acquire a 100% stake in Allnex Holding GmbH - a leading global industrial coating resin producer - for EUR4.0 billion (about THB148 billion). This should expand PTT s downstream chemical business and increase its geographical diversification. Allnex has 33 manufacturing sites worldwide, with sales across the Americas (2020: 24% of sales), EMEA (40%) and the Asia Pacific (36%). PTTGC expects the transaction to boost sales volume growth by about 5% in 2022 and add EBITDA of about EUR400
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Acquisition of allnex reflects GC s Chemistry for Better Living commitment to strengthen the sector while improving people s quality of life and becoming a more sustainable business.
GC will further strengthen allnex s market access in the Asia Pacific region.
Together, GC and allnex deliver unwavering support to sustainability through investments in innovative and green technologies.
BANGKOK, July 16, 2021 /PRNewswire/ PTTGC International (Netherlands) B.V. ( GC Inter B.V. ), a wholly owned subsidiary of PTT Global Chemical Public Company Limited ( GC ), has signed an agreement with Allnex Holdings S.à.r.l and Allnex S.à.r.l, funds advised by Advent International ( Advent ), to acquire industrial coating resins producer Allnex Holding GmbH ( allnex ).