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PTT Global Chemical Public Buys Allnex

Monday, July 19, 2021

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Allnex, an international supplier of resins for architectural, industrial, OEM and special purpose coatings, announced last week that it will become part of Thailand-based PTT Global Chemical Public Company Limited (GC).

A subsidiary of PTT Group, a premier multinational energy company and Fortune Global 500 company, GC’s portfolio includes the manufacturing and distribution of upstream, intermediate, and downstream petrochemical products for industries such as packaging, textiles and automotive.

As a global leader in industrial coating resins, with locations on four continents and serving customers in over 100 countries, allnex reports that in becoming a part of GC, it will gain the opportunity to further expand its presence in emerging markets through additional investments.

allnex

Allnex, an international resins supplier of resins for architectural, industrial, OEM and special purpose coatings, announced last week that it will become part of Thailand-based PTT Global Chemical Public Company Limited (GC).

GC is a strategic long-term investor that plans to improve allnex’ reach to the Asia Pacific region, but also foresees gaining its own company benefits from allnex’ existing global footprint.

Through the acquisition, allnex will support GC’s commitment to environmentally friendly innovations and advanced technologies with its leading green technology portfolio and research and development network.

Together, allnex and GC will address key sustainability challenges in the global market.

“We are proud of the success we have had in building allnex into a global player and are very grateful to Advent for its strong support and excellent partnership over the past years,” said Miguel Mantas, CEO of allnex. “In order to build on our leading market position, we will continue to invest in innovative technologies and look to expand our presence in APAC. With its resources, industrial network and expertise, PTT Global Chemical will represent an extraordinary opportunity to take the next steps in the development of our business.”

The sale of allnex is expected to close in the fourth quarter of 2021, subject to regulatory approvals. Financial details of the acquisition were not disclosed.

   

Tagged categories: Allnex; Asia Pacific; Business management; Business matters; Business operations; EMEA (Europe, Middle East and Africa); Latin America; Mergers; North America; Program/Project Management; Resins; Z-Continents

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