Allnex, a supplier of specialty chemicals, industrial resins including powder coating resins, energy curable resins, waterborne resins, additives and crosslinkers, announced it is becoming part of PTT Global Chemical Public Company Limited (GC).
Becoming a part of GC will give Allnex the opportunity to further expand its presence in emerging markets through additional investments, the companies say. GC is a strategic long-term investor and will improve Allnex’ reach to the Asia Pacific region while allowing GC to benefit from Allnex’ existing global footprint. With its green technology portfolio and R&D network, Allnex will support GC’s commitment to environmentally friendly innovations and advanced technologies. Together, Allnex and GC will address key sustainability challenges in the global market.
GC is a multinational chemical company based in Thailand. Its portfolio includes the manufacturing and distribution of upstream, intermediate, and downstream petrochemical products for industries such as packaging, textiles and automotive. The company is a subsidiary of PTT Group, a multinational energy company in Thailand and a Fortune Global 500 company.
“We are proud of the success we have had in building Allnex into a global player…” says Miguel Mantas, CEO of Allnex. “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 is expected to close in Q4 2021.