7 March 2018
DETAILS
(Head Office: Chiyoda-ku, Tokyo;
President: Masaaki Ito, “Kuraray”),
PTT Global Chemical Public Company Ltd.
(Head office: Bangkok, Thailand;
President & CEO: Supattanapong Punmeechaow, “PTTGC”)
and Sumitomo Corporation
(Head office: Chuo-ku, Tokyo;
Representative Director, President and Chief Executive Officer:
Kuniharu Nakamura, “Sumitomo”)
signed a joint venture agreement
to establish a joint venture company(“Company”)
with the progress of Feasibility Study(“F/S”)
for manufacturing and sales of Butadiene derivatives,
in Thailand.
Based on this agreement, the Company
starts filing applications to relevant authorities.
Kuraray will announce the Final Investment Decision (“FID”)
or any conclusions reached as well as
further relevant details once determined.
Objectives of the Signing of the Joint Venture Agreement
and Its Outline
Since September 2016, the three companies
have been engaged in detailed F/S with regard to the
production and marketing of
* High Heat Resistant Polyamide-9T (PA9T) and
* Hydrogenated Styrenic Block Copolymers (HSBC).
Hemaraj Eastern Industrial Estate (Map Ta Phut Complex),
Rayong in Thailand, has been identified
as a candidate production site.
Along with these studies, the three companies agreed
to sign a joint venture agreement.
Signing the agreement prior to reaching the FID
allows the parties involved to engage in more in-depth
investigation and proceed with the filing of applications
to relevant authorities with regard to
the launch of joint venture business.
Shareholders and shareholding ratio
Kuraray Co., Ltd.: 53.3%*
PTT Global Chemical Public Company Ltd.: 33.4%
Sumitomo Corporation: 13.3%*
* Indirect shareholdings via intermediate holding companies
to be established with the aim of investing
in the joint venture
Sources : www.set.or.th
WWW.CHEMWINFO.COM BY KHUN PHICHAI
