GC exits venture amid competition

Quick Summary:

SET-listed PTT Global Chemical (GC) has decided to withdraw from PTT Asahi Chemical, a petrochemical company that is a joint venture with multinational Japanese chemical company Asahi Kasei Corporation, attributed to tougher competition in Asia.

Both acrylonitrile and methyl methacrylate are raw materials for manufacturing plastics that are required in various industries ranging from cars and electronics to food packaging.

GC's decision to leave PTT Asahi Chemical was approved during a meeting of its shareholders on Nov 15.

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Article Details

Category: EconomyBusiness

Markets: ThailandChinaJapan

Topics: Competition Asahi Products Chemical Billion Company Investment Year Petrochemical Market Quarter

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-22 @ 07:03:00 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 368 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Bangkok Post

News ID: 23750434

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