PERSTORP, Sweden - Perstorp and PTT Global Chemical announced plans to launch a joint venture dedicated to the manufacturing and sales of aromatic (TDI) and aliphatic (IPDI, HDI and derivates) isocyanates serving the polyurethane industry. The planned joint venture includes the former Perstorp Coating Additives business group with its manufacturing sites at Pont-de-Claix, France, and Freeport, TX. PTT Global Chemical (PTT GC) will retain 51 percent of the joint ventures shares and Perstorp 49 percent.

“We believe in a promising future for polyurethanes. Perstorp’s expertise in manufacturing, sales and marketing of isocyanates coupled with PTT GC’s position as a major Asian chemical player provide the JV with a unique opportunity to establish leading positions in the worldwide polyurethane market,” said Veerasak Kositpaisal, PTT Global Chemical CEO, and Martin Lundin, Perstorp President and CEO.

The joint venture plans to invest in new manufacturing capacities and facilities to capitalize on the growing polyurethane market. In addition, the JV plans to invest further in cutting-edge research and development, as well as improving operations efficiency to strengthen competitiveness and increase market offerings.