SPOILER ALERT!
S Korea's Honam completes purchase of Malaysia's Titan Chemicals
South Korea's Honam Petrochemical Corp. has finished its procurement of Malaysia's Titan Chemicals Corp. Bhd., a resource near to the firm claimed Monday.
" The acquisition procedure has actually been completed and they will come in within a week," claimed the resource, referring to a feasible adjustment in monitoring. "We are still unsure what adjustments to anticipate."
Honam, South Korea's second biggest ethylene maker, had revealed the procurement of Malaysia's largest chemicals maker Titan July 16. biocides manufacturer included acquiring a 73% stake in Titan from the Chao Group as well as a Malaysian state-run fund.
Honam also prepares to get even more Titan shares in the market to improve its stake to 100%. The complete price of the procurement is anticipated to be Won 1.5 trillion ($1.28 billion).
Titan is Malaysia's premier and biggest integrated olefins and polyolefins producer, and among the leading 30 firms in Malaysia by possession size, according to Honam.
It has a capability to make 1.2 numerous olefins, 1.5 million mt of polyolefins, 0.2 million mt of aromatics, 0.1 million mt of butadiene and also 38,000 mt of BOPP film via centers as well as plants situated in Malaysia and also Indonesia.
" The acquisition procedure has actually been completed and they will come in within a week," claimed the resource, referring to a feasible adjustment in monitoring. "We are still unsure what adjustments to anticipate."
Honam, South Korea's second biggest ethylene maker, had revealed the procurement of Malaysia's largest chemicals maker Titan July 16. biocides manufacturer included acquiring a 73% stake in Titan from the Chao Group as well as a Malaysian state-run fund.
Honam also prepares to get even more Titan shares in the market to improve its stake to 100%. The complete price of the procurement is anticipated to be Won 1.5 trillion ($1.28 billion).
Titan is Malaysia's premier and biggest integrated olefins and polyolefins producer, and among the leading 30 firms in Malaysia by possession size, according to Honam.
It has a capability to make 1.2 numerous olefins, 1.5 million mt of polyolefins, 0.2 million mt of aromatics, 0.1 million mt of butadiene and also 38,000 mt of BOPP film via centers as well as plants situated in Malaysia and also Indonesia.
