Joint venture in Thailand to unlock new markets for the sale of polyols and polyurethane systems.
Duisburg / Brzeg Dolny (Poland) / Bangkok, in January 2015. Poland’s chemical group PCC Rokita SA, the largest company within the Duisburg-based PCC Group, has signed a contract on the establishment of a joint venture in Thailand. The objective of the joint venture with Thai partner IRPC Polyol Company Ltd. (IRPCP) is to unlock new markets in South-East Asia, China, and India, continuing the international expansion of PCC’s chemicals division.
Photo (from left): Wiesław Klimkowski (PCC Rokita SA), Waldemar Preussner (PCC SE), Sukrit Surabotsopon (IRPC Public Company Limited/IRPC Polyol Company Limited) and Boondej Phuriyakorn (IRPC Polyol Company Limited) at the contract signing in Bangkok.
The partners will have 50 percent each of the shares and voting rights in the new company headquartered in Bangkok. The joint venture will promote the sale of polyols – the main ingredient of cold-cure foams for comfortable mattresses and upholstery – as well as polyurethane systems from the portfolio of IRPCP. Apart from that, the Thai partner will develop new products for the joint venture on the basis of a technology licence granted by PCC Rokita SA.
“We are delighted to have gained IRPCP as a joint venture partner,” says Waldemar Preussner, Chairman of the Board of PCC SE, the group’s parent and holding company. “It’s a key element of our growth strategy to discover and tap new market opportunities in emerging economies offering dynamic growth. It is therefore logical to step up our presence in Asia. No chemical market in the world develops at a faster pace than that of Asia.” In the past few years, it grew at double digit percentage rates. Still, Asia’s chemical market remains far from saturated, offering potential for more growth.
PCC Rokita SA is based in Brzeg Dolny, Lower Silesia, site of the largest production plant within PCC’s Chemicals division. It is Poland’s only manufacturer of polyether polyols. These chemical compounds form the basis of high-quality polyurethane foams (abbreviated PU, or PUR) for the mattress, furniture, and automotive industries. PCC Rokita SA’s innovative iPoltec® technology for the manufacture of foams is used by several leading European mattress manufacturers. Additionally, the group’s portfolio comprises chlorine and chlorine compounds as well as specialty chemicals.
IRPCP, the joint venture partner from Thailand, specializes in the manufacture and distribution of polyols in Thailand and South-East Asia. It is part of the IRPC holding with a 30 year presence in the chemical, petrochemical, and crude oil markets.