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Thai chemical groups PTT Global Chemical (PTTGC) and SCG Chemicals (SCGC) plan to merge their olefins and polyolefins activities.
According to the press emit, the establishment of a joint venture is planned, in which the two groups will primarily bring their corresponding production facilities at the petrochemical site Map Ta Phut, southeast of Bangkok. With capacities to the production of a total of 7.1 million According to the broadcast, the JV would then be one of the ten largest sector companies in the world, tons of olefins and polyolefins per year.
According to current plans, the merger is scheduled to be completed by mid-next year. Until then, PTTGC and SCGC want to outsource their olefin and polyolefin assets distributed across various subsidiaries to project companies, which will then merge. In a communication to the Bangkok Stock Exchange, the corresponding assets of PTTGC with a total of 104.448 billion. THB (2.78 billion Euro) and from SCGC with 82.066 billion THB (2.18 billion evaluated in euros). Accordingly, the joint venture has a total value of approximately 186.5 billion. THB (4.96 billion. euro). As a result, PTTGC will then manage the majority stake with 56 percent and SCGC the remaining 44 percent in the joint venture.
With the merger, the two corporations are responding primarily to intensifying international competition. Annual synergy impacts of €150–200 million are expected. USD.
PTTGC CEO Narongsak Jivakanun stated, "This partnership aims to further expand Map Ta Phut's position as Thailand's petrochemical manufacturing site and develop the site into a regional center to petrochemical production. By linking our production capabilities with the research and research expertise of PTTGC and SCGC, we will develop items and solutions that meet the needs of downstream industries. This will help Thai companies, including SMEs, to increase the added value of their items and enhance their competitiveness in both the domestic market and export markets."
PTT Global Chemical is a subsidiary of the state-owned Thai oil and gaseous conglomerate PTT. SCG Chemicals is the chemicals division of the Thai conglomerate Siam Cement Group (SCG).
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