AGC has completed the consolidation of its chlor-alkali operations in Thailand and Vietnam under a new company called AGC Vinythai Public Co, the Japanese glass, said the company.
Placed under AGC Vinythai are two subsidiaries in Thailand, namely, a 58.78%-owned Vinythai Public Co (VNT) and a fully-owned AGC Chemicals (Thailand) Co; and a 78.11%-owned Vietnamese subsidiary AGC Chemicals Vietnam Co (ACVN).
AGC has a 70.22% stake in the newly formed company, with Thailand's PTT Global Chemical (PTTGC) holding a 27.32% stake.
AGC and PTTGC are now "in the consideration process" to increase the Thai producer's ownership in AGC Vinythai to as much as 35%, while the Japanese group's stake in the new company will not fall below 65%.
As per MRC, AGC will invest over 100 billion yen (USD770 million) to boost production of caustic soda and other chemicals in Thailand. The manufacturer looks to expand capacity at its two factories in Thailand by early 2025, with plans to produce 1.64 million tons of caustic soda annually, a 20% increase from current output. AGC, formerly known as Asahi Glass Co., is making its largest-ever investment as economic growth in Southeast Asia lifts demand for chemicals tied to industrial use and electric vehicle production.
As per MRC, AGC has begun evaluating an expansion of production capacity at its chlor-alkali subsidiary, Vinythai, as part of its initiative to expand its chlor-alkali business in Thailand. The project would involve increasing the production capacity of polyvinyl chloride to 860,000 t/y from 300,000 t/y, vinyl chloride monomer to 830,000 t/y from 400,000 t/y and caustic soda to 590,000 t/y from 370,000 t/y. A final decision will be made based on the findings of the environmental and health impact assessments.
mrchub.com