PTTGC and Japan Firms Link on Butadiene Derivatives
Japanese companies Sumitomo Corp. and Kuraray are partnering Thailand's PTT Global Chemical (PTTGC) on a proposed butadiene derivatives project. The companies have been jointly conducting a detailed feasibility study since September 2016 on the manufacture and sale of a heat-resistant polyamide resin and hydrogenated styrenic thermoplastic elastomer.
A plant producing 13,000 t/y of Kuraray's PA9T polyamide resin and 16,000 t/y of the elastomer could be built on the Hemaraj Eastern Industrial Estate in Map Ta Phut in Thailand's Rayong province, although the location has not yet been finalized.
Once the joint venture agreement has been concluded, the companies will begin application procedures with the relevant authorities, as well as work out final investment decisions and other details relating to the new company. Kuraray will take a majority 53.3% stake in the jv, with PTTGC holding 33.4% and Sumitomo taking the remaining 13.3% share.
The companies said the plant would have a competitive supply of raw materials and utilities from PTTGC and its parent PTT Group and would also benefit from Kuraray's production technology, sales and marketing knowhow as well as Sumitomo's global trade network.
In separate news, Kuraray completed its $1.3 billion takeover of US activated carbon producer Calgon Carbon on Mar. 9. As a separate subsidiary, Calgon will be reported as part of Kuraray's Functional Materials division, along with its Carbon Material business. The Functional Materials business includes the Methacrylate and Medical divisions.
