Perstorp has closed a deal to buy out its minority partner in the joint venture Shandong Perstorp Chemical Co., Ltd. (formerly Shandong Fufeng Perstorp Chemical Co., Ltd.), which owned and operated the polyol manufacturing operation at Site Zibo located in Shangdon province in China.
According to Perstop the deal underscores their continued commitment to China and the Asian market and is fully in line with the company’s strategic direction and sustainability agenda.
“Reaching our long-term strategic direction and our sustainability targets for 2030 mean that we need to develop both our business and the way we operate our site. Our ambition is to continue developing safety, sustainability, and operational excellence at Site Zibo” says Magnus Lannér, EVP Integrated Supply Chain.