SCG Chemicals Files for $5.5 Billion Thai Petrochemicals Venture

SCG Chemicals filed to combine its Thai olefins and polyolefins businesses with those of PTT Global Chemical in a proposed venture valued at $5.5 billion, as Siam Cement Group CEO Thammasak Sethaudom argued that manufacturers need regional scale to compete with Chinese supply. The combined businesses were valued at 187 billion Thai baht ($5.5 billion). SCG Chemicals would hold 44% of the proposed venture. PTT Global Chemical is Thailand’s largest petrochemical company, and shareholders are scheduled to vote on the combination Dec. 3.

Source: TokenPost