Perstorp Becomes Sole Owner of Chinese Joint Venture
Swedish chemical producer Perstorp has bought out its minority partner in the joint venture (JV) Shandong Perstorp Chemical Co. (formerly Shandong Fufeng Perstorp Chemical Co.), which has owned and operated the site in China. Perstorp is now the sole owner of the polyol manufacturing operation, located in Zibo, Shandong province.
Shandong Fufeng Perstorp Chemical Co was established as a JV between Perstorp and their Chinese partner Shandong Fufeng Hongjin Investment Co. in 2007. According to Perstorp, the acquisition of full ownership will ensure that the company can continue to expand the site and carry out substantial upgrades to ensure the competitiveness of the facility.
"Reaching our long-term strategic direction and our sustainability targets for 2030 mean that we need to develop both our business and the way we operate our site. Our ambition is to continue developing safety, sustainability and operational excellence at Site Zibo" says Magnus Lannér, executive vice president, Integrated Supply Chain, at Perstorp.
Based on the company's sustainability goals for 2030, Perstorp has developed action plans to reduce greenhouse gas emissions, reduce waste, save fresh water and enable sustainable change throughout the value chain. For operations at the Zibo site, the Scope 1 roadmap includes a number of projects aimed at reducing emissions while minimizing waste production and water consumption.
