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Perstorp Acquires Full Ownership of Shandong Perstorp Chemical, a Polyol Supplier

Published on 2024-03-06. Edited By : SpecialChem

TAGS:  Sustainability / Natural Coatings    

Perstorp Full Ownership Shandong Perstorp Chemical Polyol Supplier Perstorp closes a deal to buy out its minority partner in the joint venture Shandong Perstorp Chemical (formerly Shandong Fufeng Perstorp Chemical), which has owned and operated Site Zibo in China. Perstorp is now the sole owner of the polyol manufacturing operation, located in Zibo, Shandong province, about 400 km south of Beijing.

Sustainable Transformation of Site Zibo

Perstorp is a sustainable solutions provider. The deal underscores Perstorp’s continued strong commitment to China and the Asian market. It is also fully in line with the company’s strategic direction and sustainability agenda.

Shandong Fufeng Perstorp Chemical at Site Zibo was established as a joint venture between Perstorp and their Chinese partner Shandong Fufeng Hongjin Investment in 2007. Gaining full ownership will ensure that Perstorp can continue developing the site. Perstorp can aim to make substantial site upgrades to safeguard the competitiveness of Site Zibo.

"Reaching our long-term strategic direction and our sustainability targets for 2030 means that we need to develop both our business and the way we operate our site. Our ambition is to continue developing safety, sustainability, and operational excellence at Site Zibo," said Magnus Lannér, EVP Integrated Supply Chain.

Perstorp has developed actionable roadmaps outlining hands-on activities to lower greenhouse gas emissions, reduce waste, and save fresh water. It is also to enable sustainable transformation throughout the value chain. For the operations at Site Zibo, the Scope 1 roadmap contains a number of projects. It is designed to reduce emissions while also minimizing waste production and water consumption.

As part of the deal, the operations at Site Zibo have changed its name to Shandong Perstorp Chemical. Its former name is Shandong Fufeng Perstorp Chemical.

Source: Perstorp


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