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PTT Global Chemical (GC) and its subsidiary TOC Glycol signed joint venture agreements with Mitsui Chemicals to cooperate in managing Siam Mitsui PTA Co. (SMPC) and Thai PET Resin Co. (TPRC). GC and TOCGC will hold 74% of shares, Mitsui Chemicals 26%.
Thai conglomerate PTT plans to acquire majority ownership of Siam Mitsui PTA and Thai PET Resin for €108 million from Mitsui Chemicals and SCG Chemicals, as part of a strategy to forward integrate its subsidiary PTT Global Chemical.
PTT Global Chemical has agreed to acquire a 74% stake in PTA producer Siam Mitsui PTA and PET producer Thai PET Resin for a total of USD 125 million. The transaction is expected to complete by Q4 2018.