Perstorp, a leading Swedish provider of sustainable solutions, announced today the successful acquisition of its minority partner's stake in the Shandong Fufeng Perstorp Chemical joint venture. Perstorp is now the sole owner of the polyol manufacturing facility located in Zibo, Shandong province, China. The facility will henceforth operate under the name Shandong Perstorp Chemical.
This acquisition underscores Perstorp's unwavering commitment to the Chinese and Asian markets, aligning perfectly with the company's long-term strategic direction and sustainability goals. As the sole owner, Perstorp plans to invest in substantial upgrades to further enhance the competitiveness of the Zibo site.
As part of Perstorp's commitment to achieving its ambitious 2030 sustainability targets, the company has outlined a comprehensive roadmap for the Zibo site (Scope 1). This roadmap details projects aimed at reducing emissions, minimizing waste production, and optimizing water consumption.
The joint venture, originally established in 2007 with Shandong Fufeng Hongjin Investment Co., initially focused on the production of trimethylolpropane at the Zibo City plant. Later that same year, the partnership expanded its production capacity by acquiring neopentyl glycol production facilities from Zibo Linzi Yongliu Chemical Industry.
Perstorp's acquisition of full ownership signifies a new chapter for the Zibo site, paving the way for continued growth, innovation, and a commitment to sustainable practices in the region.
Source: Perstorp Holding AB
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