Perstorp has been acquired by PETRONAS Chemicals Group Berhad (PCG), Malaysia´s leading integrated chemicals provider.
In May, PCG signed a Securities Purchase Agreement to acquire the entire equity interest in Perstorp - a leading sustainability-driven global speciality chemicals company based in Sweden.
With the completion of the acquisition, Perstorp is now PCG’s wholly-owned subsidiary.
“This day marks a new beginning and exciting future for Perstorp as part of the PCG family. We are thrilled to explore the opportunities that can be unlocked by working closely with PCG. This will accelerate the next phase of growth and further strengthen us as a leading specialty chemicals company. Perstorp and PCG form a stronger business together,” said Perstorp’s President and CEO Jan Secher.
“We are delighted to have completed this acquisition. The acquisition is part of our stepping-out strategy, creating a new platform for our growth in the specialty chemicals industry. It also goes beyond earnings potential; Perstorp is a strategic fit with similar values and talented workforce who are experts in the industry. We are excited to welcome the Perstorp team to the PCG family,” said PCG managing director/CEO Mohd Yusri Mohamed Yusof.
Among the major development plans include the expansion of Perstorp´s global presence by strengthening its position in the Asia Pacific markets through PCG’s industrial know-how and tapping into its substantial customer base.
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