Bangkok — PTT Chemical has confirmed that its PTTGC subsidiary increased its holdings in Vencorex over the summer, and has funds to invest in Myriant.
In PTT Chemical’s latest filing with the Bangkok Stock Exchange, it confirmed that its PTTGC subsidiary paid EUR 31.37m for 34% of Vencorex on 21 June 2017. This payment is part of the transaction by which PTT started to buy out Perstorp’s share of their joint venture in Vencorex, a process that was initiated on 28 August 2014.
PTTGC’s total shareholding in Vencorex is now 91%. Vencorex is a speciality diisocyanates producer based in Southern France.
PTTGC also confirmed that it had invested $ 6.15 m in Myriant over the summer. Earlier this year, Myriant refocused its activities away from producing biosuccinic acid and towards research and development.
No financial details for Vencorex or Myriant were disclosed in the filing.