Brzeg Dolny, Poland – Polish polyol maker PCC Rokita has sold a 100% stake in its subsidiary PCC Oxyalkylates Malaysia to its parent company, PCC. The parent company is based in Duisburg, Germany.
According to a filing on the Warsaw stock exchange, Rokita will use the proceeds of the sale to invest in a polyols plant in Malaysia’s Terrengganu state. In addition, it said that the shares were sold for PLN 8.2m (EUR 1.91m).
The latest development means that the Poland-based company no longer owns the shares in the special-purpose company that will implement the project in Malaysia, as stated in PCC Rokita’s recently released annual report.
Meanwhile, in February 2017, the polyol maker signed a framework agreement with Malaysia’s Petronas. In that agreement, Petronas said it would supply PCC with ethylene oxide for the new plant.
XE Conversion date: 5 April