Perstorp and PTT Global Chemical have signed a joint venture for the worldwide manufacturing and sales of products for the polyurethane industry. At a ceremony in Grenoble, France, the future cooperation agreement between Perstorp and PTT Global Chemical was signed. The joint venture, dedicated to the manufacturing and sales of aromatic (TDI) and aliphatic (IPDI, HDI & derivates) isocyanates, includes the former Perstorp business group Coating Additives with its manufacturing sites at Pont-de-Claix in France and Freeport, Texas in the U.S. PTT Global Chemical (PTTGC) will hold 51 percent of the joint venture and Perstorp 49 percent.
The joint venture is planning a major investment to expand capacity at the manufacturing plant in Pont-de-Claix, France and new capacity in Asia. This includes the investment in a new joint plant for HDI derivatives in Asia. As part of the investment plan, Perstorp has also entered an agreement with the French government regarding the measures to be introduced that meet the French PPRT law (Plan de Prevention des risques Technologique), measures which are also supported by PTTGC.