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Dow Polyurethanes agrees to acquire Pacific Plastics from Siam Cement
Dow Polyurethanes, a business group of Dow Chemical, will acquire the remaining 51 per cent of Pacific Plastics (Thailand) (PPTL) shares from Siam Cement and two other minority partners.
Published on November 16, 2007
Dow Polyurethanes president Pat Dawson said the move was in line with the strategy of investing in downstream performance businesses.
Dow Polyurethanes has a long-standing successful business relationship with Siam Cement. The two companies signed their first joint venture agreement in 1987 and have since formed a total of five joint ventures, producing polyols, synthetic latex, polystyrene, styrene monomers and polyethylene at the company's Map Ta Phut plant.
The company's acquisition of PPTL supports the strategic goals of both joint-venture partners, and the companies will continue to collaborate on various projects, such as the liquids-cracker project in Thailand announced in October 2006, which is expected to commence operations in 2010.
The Nation
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