You are currently here: News » Industry » VIETNAM: Petronas sells 93 % of Phu My Plastics to ...
Section: General
  • Written on 27.06.2014 - Industry
  • You have these options:
    • Print this article
    • Article as PDF

VIETNAM: Petronas sells 93 % of Phu My Plastics to Asahi Glass Co. & Mitsubishi Corp.

Petronas Chemicals Group has divested its 93.11 % interest in Vietnamese polyvinyl chloride (PVC) producer Phu My Plastics and Chemical Co. (PMPC) to Asahi Glass Co. and Mitsubishi Corp.

PMPC operates a 100,000-t/y PVC plant in Vung Tau.

Vung Tao Shipyard Corp. holds the remaining stake in PMPC.

Value of the transaction was not disclosed.

According to an announcement on Petronas' website, the divestment is part of Petronas' plan to discontinue its vinyl business, in line with its portfolio optimization strategy. With completion of the sale, PMPC is no longer a subsidiary of Petronas.

Source: Weekly "PetroChemical News", Durham, NC, USA; 23 June 2014
(Syed Rashid Ali, Karachi, Pakistan)


RSS Feed

Are you new here? Do you want to be always up to date?
Then subscribe to our RSS Feeds and never miss a news again.