Perstorp

Perstorp buys out minority partner at China site

Malmö March 5, 2024 - Sustainable solutions provider Perstorp has closed a deal to buy out its minority partner in the joint venture Shandong Perstorp Chemical Co., Ltd. (formerly Shandong Fufeng Perstorp Chemical Co., Ltd.), which has owned and operated Site Zibo in China. Perstorp is now the sole owner of the polyol manufacturing operation, located in Zibo, Shandong province, about 400 km south of Beijing.

The deal underscores Perstorp’s continued strong commitment to China and the Asian market and is fully in line with the company’s strategic direction and sustainability agenda.

Shandong Fufeng Perstorp Chemical Co at Site Zibo was established as a joint venture between Perstorp and their Chinese partner Shandong Fufeng Hongjin Investment Co., Ltd. in 2007. Gaining full ownership will ensure that Perstorp can continue developing the site, and can aim to make substantial site upgrades to safeguard the competitiveness of Site Zibo.

"Reaching our long-term strategic direction and our sustainability targets for 2030 mean that we need to develop both our business and the way we operate our site. Our ambition is to continue developing safety, sustainability and operational excellence at Site Zibo" says Magnus Lannér, EVP Integrated Supply Chain.

Based on the company’s ambitious sustainability targets for 2030, Perstorp has developed actionable roadmaps outlining hands-on activities to lower greenhouse gas emissions, reduce waste, save fresh water and enable sustainable transformation throughout the value chain. For the operations at Site Zibo, the Scope 1 roadmap contains a number of projects designed to reduce emission while also minimizing waster production and water consumption.

As part of the deal, the operations at Site Zibo has changed its name to Shandong Perstorp Chemical Co., Ltd. Its former name is Shandong Fufeng Perstorp Chemical Co., Ltd.

Reader enquiries

Perstorp
Perstorp Holding AB
Neptunigatan 1
SE-211 20 Malmö
Sweden

+46 435 380 00

perstorp@​perstorp.com

www.perstorp.com

@perstorpgroup

perstorp-group

PerstorpGroup


Notes for editors

Perstorp believes in improving everyday life – making it safer, more convenient and more environmentally sound for billions of people all over the world. As a world leading specialty chemicals company, our innovations provide essential properties for products used every day and everywhere. You’ll find us all the way from your car and mobile phone to towering wind turbines and the local dairy farm. Simply put, we work to make good products even better, with a clear sustainability agenda.

Founded in Sweden in 1881, Perstorp’s focused innovation builds on more than 140 years of experience, representing a complete chain of solutions in organic chemistry, process technology and application development. Perstorp has approximately 1,500 employees and manufacturing units in Asia, Europe and North America. Sales in 2022 amounted to 15.3 billion SEK. Perstorp is a wholly-owned subsidiary of PETRONAS Chemicals Group Berhad (PCG), Malaysia´s leading integrated chemicals provider and part of PETRONAS Group.

Learn more at www.perstorp.com

Related images

Perstorp buys out minority partner at China site. (Photo: Perstorp)

 

Editorial enquiries

Lovisa Hermansson
Corporate Communications Manager
Perstorp

+46 729 779 741

lovisa.hermansson@​perstorp.com

Kim Lommaert
EMG

+31 164 317 021

klommaert@​emg-marcom.com

 

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