PCG will preserve and grow the value of Perstorp by focusing on specialty solutions and sustainable transformation.
Perstorp has recently announced that it has been acquired by PETRONAS Chemicals Group Berhad (PCG), a Malaysian integrated chemicals provider that is part of PETRONAS Group. In May 2022, PCG signed a Securities Purchase Agreement with Financière Forêt S.à.r.l to acquire the entire equity interest in Perstorp. With the completion of the acquisition, the company is now a wholly-owned subsidiary of PCG.
“This day marks a new beginning and exciting future for Perstorp as part of the PCG family. We are thrilled to explore the opportunities that can be unlocked by working closely with PCG. This will accelerate the next phase of growth and further strengthen us as a leading specialty chemicals company. Perstorp and PCG form a stronger business together,” has stated Jan Secher, the president and CEO of Perstorp.
“We are delighted to have completed this acquisition. The acquisition is part of our stepping-out strategy, creating a new platform for our growth in the specialty chemicals industry. It also goes beyond earnings potential; Perstorp is a strategic fit with similar values and talented workforce who are experts in the industry. We are excited to welcome the Perstorp team to the PCG family,” has commented Mohd Yusri Mohamed Yusof, the managing director of PETRONAS Chemicals Group. “We are ready to advance further in our sustainability agenda. Perstorp’s Finite Material Neutral initiatives will serve as a catalyst for PCG’s projects towards our aspiration of Net Zero Carbon Emissions by 2050.”
PCG intends to continue preserving and growing the value of Perstorp and it is planning to strengthen the expansion of the brand in the Asia-Pacific region through its industrial know-how and tapping into its substantial customer base. As a matter of fact, the company will also ensure the completion of the on-going projects of Perstorp, such as Project Air, in a safe and cost-effective manner.
“The combined technology and innovation power, as well as a complementing market positioning, create a new foundation upon which we, together with PCG, can leverage. We are proud of our frontrunner position in sustainability and will continue to lead the sustainable transformation in the chemical industry. I truly look forward to start this exiting journey with PCG together with our employees, partners and customers. Together we will lead change towards chemistry that advances everyday life for the better,” has concluded Secher.