PTT Chemical will pay about US$150 million (Bt4.6 billion) for half of NatureWorks, the world’s leading manufacturer of polylactic acid, and plans to co-invest with Cargill Inc, the major shareholder of NatureWorks, in a PLA plant in Thailand.
Veerasak Kositpaisal, president and chief executive officer of PTTCH, said recently that the company was becoming a partner of Cargill.
PTTCH will likely start realising revenue from NatureWorks this year after the deal is completed, he said.
Keywords: revenue, PLA facility, sales volume, high-density polyethylene, ethane cracker
Source: The Nation, 2011-10-12.