Union Petrochemical sets up new ethanol subsidiary

The Board of Directors of Thailand-based Union Petrochemical Public Co. Ltd. met on October 8 to set up a new subsidiary to be named “UKEM Ethanol and Easter Co. Ltd.” With an initial registered capital of 5 million baht (US$149,700), the new subsidiary will undertake the production of ethanol. UKEM will apply for various licenses and permission from Thailand’s Ministry of Industry and other relevant authorities to build and operate the plant. (October 12, 2009)