Japan’s Asahi Glass to acquire 59% stake in Thai Vinythai
Solvay owned 75% of Vinythai before the acquisition while its shares now went down to 16%. The remaining 25% of Vinythai belongs to PTT Global Chemical (PTTGC). Vinythai has plants in Thailand’s Rayong province including a 280,000 tons/year PVC plant and a 400,000 tons/year VCM plant.
Asahi Glass reportedly announced that it aims to enhance its chemical business in Southeast Asia with this new acquisition and the business year ending on December 31 will not be affected.
The deal means Solvay will retreat further from PVC production after finalizing its operations in Europe and its Brazilian activities are divested in order to focus more on specialty chemicals and polymers, the reports told.
The acquisition is expected to be completed by the end of June 2017.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- SE Asian PP, PE markets look for direction amid tepid demand, rising freights
- European PS, ABS markets open 2022 on firm footing
- Asia PET prices extend gains into January
- China’s PVC exports hit records in 2021; challenge global suppliers
- Stats: Turkey’s PP, PE imports on track for record-setting year
- What to watch in 2022 in polymer markets?
- Turkey’s PE markets retain downtrend as 2021 ends
- Asian PP, PE markets to start 2022 on a bearish note
- PET bottle prices rise 40% in 2021 across Asia
- Egypt’s PVC markets set to end 2021 on weaker footing