7 January 2014
Details
PTT Global Chemical Plc. (PTTGC) is pleased to inform
that on January 2, 2014 Myriant Corporation ,
which is 72.62 % owned by PTTGC via
PTT Chemical International Private Limited
(a wholly-owned subsidiary of PTTGC),
* has purchased shares from
the existing shareholders totaling
3,406,569 shares and
* reduced its issued and outstanding capital
by cancellation of those purchased shares.
As a result,PTTGC's shareholding in
Myriant changes to 84.77 %
after the reduction in issued and outstanding shares.
PTTGC supports business management of Myriant
in order to
* achieve transformation into
PTTGC's
Biotechnology Research and Development Center
as well as
* strengthen its fundamentals for
commercial production in the future.
About Myriant Corporation
At present, Myriant
* conducts research and development
of Bio-based chemicals for production of
various chemicals which are environmentally friendly and
* owns a bio-based succinic acid plant
in Louisiana, USA with an approximately
production capacity of 14,000 tons per year.
About Bio-based succinic acid
* Bio-succinic acid
can be combined with
* 1,4-butandediol (BDO)
to create high performing green
* Polybutylene Succinate (PBS),
a key polymer used to make
a wide range of applications, including mulch films.
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