St Priest, France -- Vencorex, the newly formed joint venture company of PTT Global Chemical of Thailand and Sweden's Perstorp Group, has presented its mission to bring "excellence in polyurethane core chemistry."
The company, which has manufacturing sites at Pont-de-Claix in France and Freeport, Texas, will employ 650, and have an annual turnover of Euro 420 million ($528 million), Vencorex said.
In a 22 June letter, newly appointed Vencorex president Magnus Lannér said that the strategic partnership between Perstorp and PTTGC presents many advantages. It allows the companies to develop their existing footprint and market, and to gain a foothold in the expanding Asian market.
Lannér also said it offers upstream integration into feedstock, sustainability, through a financially strong partnership, and increased R&D focus and resources, for example, a pilot plant for scaling-up processes, and access to PTTGC resources and laboratories.
Vencorex, which bases its expertise on isocyanates, said it believes these advantages will strengthen its current and future relationship. Lannér added that for more information, customers should contact their usual commercial representative, who will not be changed.