Perstorp buys out minority partner at China site
Perstorp has acquired its minority partner in the Shandong Perstorp Chemical joint venture and is now the sole owner of the polyol manufacturing plant in Zibo, China. The acquisition underlines Perstorp’s commitment to China and Asia and the company’s strategic direction, particularly with regard to sustainability goals and modernisation plans for the Zibo site.
Perstorp has closed a deal to buy out its minority partner in the joint venture Shandong Perstorp Chemical (formerly Shandong Fufeng Perstorp Chemical), which has owned and operated Site Zibo in China. Perstorp is now the sole owner of the polyol manufacturing operation, located in Zibo, Shandong province, about 400 km south of Beijing. The deal underscores Perstorp’s continued strong commitment to China and the Asian market and is fully in line with the company’s strategic direction and sustainability agenda.
Shandong Fufeng Perstorp Chemical at Site Zibo was established as a joint venture between Perstorp and their Chinese partner Shandong Fufeng Hongjin Investment in 2007. Gaining full ownership will ensure that Perstorp can continue developing the site, and can aim to make substantial site upgrades to safeguard the competitiveness of Site Zibo.
Based on the company’s ambitious sustainability targets for 2030, Perstorp has developed actionable roadmaps outlining hands-on activities to lower greenhouse gas emissions, reduce waste, save fresh water and enable sustainable transformation throughout the value chain. For the operations at Site Zibo, the Scope 1 roadmap contains a number of projects designed to reduce emission while also minimizing waster production and water consumption.
