Thai conglomerate PTT (Bangkok; www.pttplc.com) is planning forward integration of its subsidiary PTT Global Chemical (Bangkok; www.pttgcgroup.com). The company intends to acquire majority shares in Siam Mitsui PTA and Thai PET Resin, for approximately EUR 108m, from Mitsui Chemicals (Tokyo / Japan; www.mitsui.com) and SCG Chemicals (Bangkok; www.scgchemicals.com/en). Both deals are scheduled to be completed by the end of 2018 after merger filing clearance.

The share transfers will give PTT Global Chemical and its subsidiary TOC Glycol (Bangkok; www.tocglycol.co.th/en) a total of 74% of the two companies. Siam Mitsui PTA will then operate as a joint venture between PTT Global Chemical, TOC Glycol and Mitsui. Thai PET Resin is to become a jv between TOC Glycol, Siam Mitsui PTA and Mitsui.

According to Plasteurope.com's Polyglobe ​​database (www.polyglobe.net), Siam Mitsui PTA has a PTA capacity of 940,000 t/y in Muang Rayong / Thailand, while PTT has a capacity of more than 1.2m t/y of the PTA precursor paraxylene in Map Ta Phut, some 20 km away. Thai PET Resin also operates a 100,000 t/y PET plant there, and TOC Glycol produces the PET precursor MEG (490,000 t/y) at the same site.