Perstorp announces that it has been acquired by PETRONAS Chemicals Group Berhad (PCG), Malaysian integrated chemicals provider and part of PETRONAS Group on 11 October 2022.
Securities Purchase Agreement with Financière Forêt S.à rl
PCG signed a Securities Purchase Agreement with Financière Forêt S.à rl to acquire the entire equity interest in Perstorp. With the completion of the acquisition, Perstorp is now PCG’s wholly owned subsidiary.
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This day marks a new beginning and exciting future for Perstorp as part of the PCG family. We are thrilled to explore the opportunities that can be unlocked by working closely with PCG,” said Perstorp’s president and CEO Jan Secher.
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This will accelerate the next phase of growth and further strengthen us as a leading specialty chemicals company. Perstorp and PCG form a stronger business together,” continued Secher.
Among the major development plans include the expansion of Perstorp´s global presence by strengthening its position in the Asia Pacific markets through PCG’s industrial know-how and tapping into its substantial customer base.
Growth in Specialty Chemicals Industry
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We are delighted to have completed this acquisition. The acquisition is part of our stepping-out strategy, creating a new platform for our growth in the specialty chemicals industry. It also goes beyond earnings potential,” said PCG managing director/ chief executive officer, Ir. Mohd Yusri Mohamed Yusof.
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Perstorp is a strategic fit with similar values and talented workforce who are experts in the industry. We are excited to welcome the Perstorp team to the PCG family,” added Yusof.
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The combined technology and innovation power, as well as a complementing market positioning, create a new foundation upon which we, together with PCG, can leverage. We are proud of our front runner position in sustainability and will continue to lead the sustainable transformation in the chemical industry,” explained Secher.
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I truly look forward to start this exciting journey with PCG together with our employees, partners and customers. Together we will lead change towards chemistry that advances everyday life for the better,” added Secher.
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We are ready to advance further in our sustainability agenda. Perstorp’s Finite Material Neutral initiatives will serve as a catalyst for PCG’s projects towards our aspiration of Net Zero Carbon Emissions by 2050,” concluded Ir. Mohd Yusri.
Source: Perstop