PTTGC Collaborates with Sanyo Chemical and Toyota Tsusho, Signing the Joint Venture Agreement in Establishing GC Polyols
PTTGC collaborated with a major alliance in Japan ‘Sanyo Chemical and Toyota Tsusho in establishing GC Polyols, with the aim of producing and distributing polyols, which is used as major feedstock for the production of polyurethane. This marked a significant step for PTTGC in pursuing the petrochemical project in the Eastern Economic Corridor (EEC) area in accordance with the government’s policy.
Khun Supattanapong Punmeechaow, President and Chief Executive Officer, PTT Global Chemical PLC (PTTGC) jointly signed the Joint Venture Agreement with Dr. Takao Ando, President, Sanyo Chemical Industries, Ltd. (SCI) and Mr. Soichiro Matsudaira, Representative Director, Member of the Board, Executive Vice President, Chief Division Officer of Chemicals & Electronics Division, Toyota Tsusho Corporation (TTC) in Polyols & PU System project, establishing GC Polyols Company Limited, whereby the shareholding proportions of PTTGC, SCI and TTC are 82.1%, 14.9% and 3% respectively.
This joint venture collaboration is considered PTTGC’s major milestone in entering the New S-Curve industries in accordance with the government’s policy in gearing towards Thailand 4.0, further developing the Company’s business in performance chemicals as a way of increasing value-added features for the products, aligning with the strategic plan and operational direction of the Company. In this regard, this business expansion initiative is for the purpose of satisfying higher demands in the automotive, electrical appliance and electronics and construction material industries.