12 Oktober 2011

PTT CHemical to buy half of NatureWorks

Plans JV plant with Cargill for PLA production in Thailand

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.

Full text: www.nationmultimedia.com/new/business/PTTCH-to-buy-half-of-NatureWorks-30167425.html

Keywords: revenue, PLA facility, sales volume, high-density polyethylene, ethane cracker

Source: The Nation, 2011-10-12.

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