AGC announces that its Board of Directors has passed a resolution to integrate and reorganize its 3 consolidated subsidiary companies, AGC Chemicals (Thailand) Co., Ltd (ACTH), Vinythai Public Company Limited (VNT), and AGC Chemicals Vietnam Co., Ltd (ACVN), and to form a new company which will promote the business development of Chlor-Alkali products and services in Thailand and Cambodia, Laos, Myanmar and Vietnam (CLMV) markets, with a target completion by first half of 2022.
The AGC Group aims to expand its Chlor-Alkali chemicals business in Southeast Asia as one of the priority businesses of the AGC plus 2.0 management policy.
Caustic soda and polyvinyl chloride resin (PVC) markets in Southeast Asia are expected to grow approximately 4% per year. AGC has expanded its chlor-alkali business in Southeast Asia with the aim of steadily capturing growing demand in the region and has consolidated its leading position by enhancing the production capacity of its existing bases in Indonesia and has acquired ACVN and VNT.
This decision will further strengthen our Chlor-Alkali business base in Thailand and CLMV markets and aim for further growth by deepening our partnership with PTT Global Chemical Public Company Limited, a shareholder in the newly integrated company and a leading petrochemical manufacturer in Thailand.
VNT to obtain an approval from its shareholders meeting for the delisting of securities of VNT from the Stock Exchange of Thailand.
