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Ma Petrochemical acquires Swedish chemical company Perstorp for 2.
3 billion euros
On May 17, Malaysia's national petroleum and chemical group (hereinafter referred to as "Sinopec") announced that it signed an agreement with PAI Partners, a European private equity firm, to acquire Swedish specialty chemical giant Perstorp
for 2.
3 billion euros (about more than 16 billion yuan).
Ma Petrochemical said the acquisition is expected to close
in the third quarter.
With the acquisition of Perstorp, the company has created a significant portfolio of specialty chemicals that will improve overall earnings
.
The acquisition of Perstorp will increase its overall production capacity by up to 2.
3 million mt/year and contribute 28% of incremental revenue, supporting 30% of revenue
by 2030.
Ma Petrochemical is a subsidiary of Petronas and is principally engaged in the production of commodities
such as olefins, polymers, methanol and fertilizers.
Ma Petrochemical said its strategy is to strengthen its base petrochemical portfolio and selectively diversify
into derivatives, specialty chemicals and solutions.
The acquisition follows the acquisition of BRB Group, a silicone and lubricant additives company
, in 2019.
