PTT Global Chemical Public Company Limited (SET: PTTGC) announced that the company on December 29, 2021, has completed the acquisition of Allnex Holding GmbH, according to the resolution of the Board of Directors’ meeting of PTTGC International (Netherlands) B.V., a wholly-owned subsidiary of PTTGC, on July 1, 2021, to invest in High Value Business (HVB).
The acquisition of Allnex Holding highly fits to the company group’s growth strategy with the aim to diversify the company group’s business toward specialties arena, specifically to increase profit contribution from and capture growth opportunities in High Value Business (HVB), which matches the global megatrend. Allnex Holding who is a global leader in specialty coating resins and crosslinkers business can serve as a future growth platform of the company group to further build its position in HVB business at the global level.
PTTGC expects to collaborate with Allnex Holding to enhance the synergies while further adding values to Allnex Holding’s unique qualities and enhance its competitive edge, and to work together to preserve Allnex Holding’s strength while creating more opportunities and synergies in business, growth, innovation, and operational excellence.
