Malaysian petrochemicals giant Petronas Chemical Group (PCG) has agreed to acquire Perstorp from its private equity owner, Financière Forêt. The €1.54 billion cash acquisition gives Perstorp an enterprise value of €2.3 billion. It should close in 2H 2022, subject to regulatory and shareholder approvals.
Perstorp plans to roughly double its carboxylic acids capacity by 2024, by adding a second 70,000 tonnes/year facility at its main site in Stenungsund, Sweden. Like the original unit, this will produce acids from C3 to C9 chemistry and will be fully integrated into the company’s oxo production platform.
Under the newly announced Project AIR, Perstorp plans to build a first-of-its-kind, commercial-scale carbon capture and utilisation (CCU) unit to produce sustainable methanol via a combined CCU and gasification process at its site in Stenungsund, Sweden (pictured). Depending on securing grants to finance it, the aim is start producing in 2025.