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Kuraray, PTT, and Sumitomo launch jv company in Thailand

Kuraray Group, GC Group,and Sumitomo Group

Japanese chemical maker Kuraray Co, Thailand-based PTT Global Chemical Public Company and compatriot Japanese chemical company Sumitomo Corporation recently held an opening ceremony for a joint venture company, Kuraray GC Advanced Materials Co, set up to operate in Thailand. Kuraray owns 53.3%; PTTGC 33.4% and Sumitomo, 13.3%.

With Hemaraj Eastern Industrial Estate (Map Ta Phut Complex), Rayong in Thailand, as the candidate of the production site, Kuraray GC is scheduled to manufacture and sell high heat resistant polyamide-9T (PA9T) and hydrogenated styrenic block copolymers (HSBC).

At the ceremony, attendees expressed their high expectations for this project in Thailand.

Kuraray's President Ito remarked, "It is our pleasure to operate the company with PTTGC, which is a diversified and wide-range petrochemical businesses, including manufacturing and distribution of upstream, intermediate, and downstream petrochemical products and Sumitomo which is a Global Trading Company and has strong business ground in Thailand and Southeast Asia."

PTTGC's President Supattanapong commented, "It has been a very long journey to achieve this joint venture. Over the past three years, our three companies have been harmonizing together and put tremendous effort into making this project happen."

Sumitomo's Representative Director, Executive Vice President Fujita said, "We at Sumitomo Corporation intend to offer our full support, together with Kuraray and GC to ensure the success of this joint venture company."

(IMA)


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