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Speciality chemicals company Perstorp has announced the transactional closing and set up of a joint venture (JV) with Thailand’s largest chemical producer PTT Global Chemical for the manufacture and sales of products for the polyurethane industry. PTT Global Chemical holds 51% and Perstorp 49% of the JV, named Vencorex Holding.
The JV, dedicated to the manufacture and sales of aromatic (TDI) and aliphatic (IPDI, HDI and derivates) isocyanates, includes the former Perstorp Business Group ‘Coating Additives’ with its manufacturing sites at Pont-de-Claix, France and Freeport, USA.
At locations where Vencorex does not have its own sales staff, Perstorp’s existing sales organisation will continue to sell and market Vencorex products and solutions.