Perstorp acquires full ownership of Zibo, China manufacturing facility
In a significant move, Perstorp has announced it has acquired full ownership of the joint venture Shandong Fufeng Perstorp Chemical Co., Ltd., which operates a polyol manufacturing operation at Site Zibo in China, located approximately 400 km south of Beijing.
Established in 2007, Shandong Fufeng Perstorp Chemical Co., Ltd. was a joint venture between Perstorp and a Chinese minority partner, Shandong Fufeng Hongjin Investment Co., Ltd. The closure of the buyout process was announced by Perstorp on March 5, marking a key milestone for the company. As part of the deal, the operations at Zibo will now operate under the name Shandong Perstorp Chemical Co., Ltd.
Perstorp emphasised that sole ownership of Zibo will enable the company to make substantial site upgrades to ensure its ongoing competitiveness. “Our ambition is to continue developing safety, sustainability, and operational excellence at Site Zibo,” says Magnus Lannér, EVP Integrated Supply Chain.
Perstorp, founded by Wilhelm Wendt in southern Sweden 140 years ago, was acquired by PETRONAS Chemicals Group Berhad (PCG), Malaysia’s leading integrated chemicals provider and part of PETRONAS Group, in 2022. The deal underscores Perstorp’s strong commitment to China and the Asian market.
The media release highlighted an ambitious sustainability agenda including actionable roadmaps to lower greenhouse gas emissions, save water and reduce waste, facilitating a sustainable transformation throughout the value chain. This includes several projects aimed at improving the sustainability of the operations in Zibo.
