Perstorp in the present day introduced that it has been acquired by PETRONAS Chemical compounds Group Berhad (PCG), Malaysia´s main built-in chemical substances supplier and a part of PETRONAS Group, on 11 October 2022.
In Might this yr, PCG signed a Securities Buy Settlement with Financière Forêt S.à.r.l, an organization beneath PAI Companions, a European non-public fairness agency, to accumulate all the fairness curiosity in Perstorp, a number one sustainability-driven international specialty chemical substances firm primarily based in Sweden. With the completion of the acquisition, Perstorp is now PCG’s wholly-owned subsidiary.
“Today marks a brand new starting and thrilling future for Perstorp as a part of the PCG household. We’re thrilled to discover the alternatives that may be unlocked by working intently with PCG. It will speed up the following part of progress and additional strengthen us as a number one specialty chemical substances firm. Perstorp and PCG kind a stronger enterprise collectively,” stated Perstorp’s President and CEO Jan Secher.
“We’re delighted to have accomplished this acquisition. The acquisition is a part of our stepping-out technique, creating a brand new platform for our progress within the specialty chemical substances business. It additionally goes past earnings potential; Perstorp is a strategic match with comparable values and proficient workforce who’re specialists within the business. We’re excited to welcome the Perstorp workforce to the PCG household,” stated PCG Managing Director/ Chief Govt Officer, Ir. Mohd Yusri Mohamed Yusof.
Transferring ahead post-acquisition, PCG intends to proceed preserving and rising the worth of Perstorp, as the following few years will probably be a vital chapter for each firms. Among the many main improvement plans embody the enlargement of Perstorp´s international presence by strengthening its place within the Asia Pacific markets by way of PCG’s industrial know-how and tapping into its substantial buyer base.
“The mixed know-how and innovation energy, in addition to a complementing market positioning, create a brand new basis upon which we, along with PCG, can leverage. We’re pleased with our frontrunner place in sustainability and can proceed to steer the sustainable transformation within the chemical business. I really look ahead to begin this thrilling journey with PCG along with our workers, companions and clients. Collectively we are going to lead change in the direction of chemistry that advances on a regular basis life for the higher,” Jan Secher provides.
PCG will try to make sure the well timed completion of Perstorp’s progress initiatives in a protected and cost-effective method. Perstorp has a number of initiatives lined up within the close to future, together with the launch of Venture Air which goals to scale back carbon emissions by way of the manufacturing of sustainable methanol. Lately, The European Union Innovation Fund chosen Venture Air, as one of many 17 large-scale inexperienced tech initiatives, which collectively will probably be granted greater than EUR 1.8 billion. Venture Air is a gamechanger for the chemical business, shifting from fossil uncooked supplies to recycled and bio-based feedstock, thereby enabling sustainable chemical merchandise to a big number of industries and finish merchandise. At full capability, it is going to cut back international CO2 emissions with near 500,000 metric tons per yr from in the present day’s ranges, corresponding to at least one % of present emissions in Sweden.
“We’re able to advance additional in our sustainability agenda. Perstorp’s Finite Materials Impartial initiatives will function a catalyst for PCG’s initiatives in the direction of our aspiration of Web Zero Carbon Emissions by 2050,” concluded Ir. Mohd Yusri.
October 11, 2022 – Perstorp