PTT Global Chemical Public Company Limited (SET: PTTGC) stated on Monday that it has finalized the acquisition of the entire business of GC Glycol Co.,Ltd. (Glycol) and GC Styrenics Co.,Ltd. (GCS), which is effective under the law on July 1, 2022.
The acquisition of Glycol and GCS is part of the business restructuring plan and that the Company will further proceed with the dissolution of Glycol and GCS.
PTTGC’s Board of Directors at the meeting held on December 13, 2021 has the resolution to approve to acquire the entire or part of business and the dissolution of the Company’s subsidiaries which the group business restructuring will better support the Company’s long-term strategy including the business expansion internationally, sales and development of High Value Products, enhancing the Company’s governance efficiency of group of companies both domestically and internationally, and also support the Company’s Sustainability strategy.