PTTGC Inks the Deal to Acquire 49% Shares in Rotomolding Compound Business
PTTGC readies to advance in Rotomolding Compound Business in Europe and Oceania by signing the deal with Revolve Group Limited to acquire 49% shares.
PTT Global Chemical Public Company Limited (PTTGC) announces that according to the approval of the Board of Directors on August 20, 2018, PTTGC has signed the share sale and subscription agreement for Rotomolding Compound Business to acquire 49% shares of Revolve Group Limited (RGL) from original shareholder and by subscription of newly issued shares on October 30, 2018. The total investment is 6.4 million pound sterling (฿281 million).
The investment is harmonized with PTTGC’s business strategy that intends to expand the investment toward downstream and enhance the value chain of Performance Chemicals products. RGL is a major producer of Rotomolding Compound with a significant market share in Europe and Oceania through its extended global production footprints including UK, Poland, Australia, New Zealand, and Malaysia. The major feedstock used is LLDPE plastic resin.
