In line with its earlier announcement (see Plasteurope.com of 06.08.2014), Swedish speciality chemicals producer Perstorp (Perstorp; www.perstorp.com) in late August sold most of its shares in its Vencorex (Saint Priest / France; www.vencorex.com) isocyanates joint venture to its jv partner PTT Global Chemical (PTT GC, Bangkok / Thailand; www.pttgcgroup.com). Per its decision to focus on core business activities outside the isocyanates market, Perstorp reduced its stake in the company from 49% to 15%.

Founded in May 2012 (see Plasteurope.com of 11.06.2012), Vencorex produces TDI, HDI and its derivatives at two plants, located in Pont-de-Claix / France and Freeport, Texas / USA. The reshuffle in ownership will reportedly allow the company to invest in its new strategic plan, focused on downstream isocyanates. Perstorp said the amount paid by PTT for its shares would depend on Vencorex’s future performance both this year and next, and is thus due at a later date.

As for the Swedish company, it said it plans to focus its activities on its “Capa” caprolactones, used to manufacture polyols and polycaprolactone. As part of this objective, Perstorp recently announced plans to build a new neopentyl glycol plant in Zibo, Shandong / China.