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    PTT   TH0646010Z00

PTT PUBLIC COMPANY LIMITED

(PTT)
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PTT Public : Cargill and PTTGC to build $600 million biopolymer plant in Thailand

08/10/2021 | 02:50am EDT
FILE PHOTO: A Cargill logo is pictured on the Provimi Kliba and Protector animal nutrition factory in Lucens

BANGKOK (Reuters) - U.S. agribusiness giant Cargill Inc and Thailand's PTT Global Chemical Pcl announced on Tuesday they will build a biopolymer production facility at a cost of more than $600 million in Thailand.

The plant will be built through their joint venture, NatureWorks, and will help meet increasing demand for sustainable materials, PTTGC said in a statement.

The manufacturing complex will use about 110,000 tonnes of sugar annually from Thai farmers as a raw material and have an annual biopolymer capacity of 75,000 tonnes. It is due to begin operations in 2024.

Its products can be used to make hygiene masks, wiping cloths and food packaging.

The investment comes less than a month after PTTGC announced a $4.75 billion acquisition of German coating resins maker Allnex.

(Reporting by Chayut Setboonsarn; Editing by Ed Davies)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED -0.38% 66 End-of-day quote.12.82%
PTT PUBLIC COMPANY LIMITED 1.27% 40 End-of-day quote.-5.88%
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Financials
Sales 2021 2 166 B 64 928 M 64 928 M
Net income 2021 108 B 3 222 M 3 222 M
Net Debt 2021 358 B 10 725 M 10 725 M
P/E ratio 2021 10,8x
Yield 2021 4,61%
Capitalization 1 143 B 34 305 M 34 248 M
EV / Sales 2021 0,69x
EV / Sales 2022 0,62x
Nbr of Employees -
Free-Float 71,5%
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Mean consensus BUY
Number of Analysts 21
Last Close Price 40,00 THB
Average target price 48,91 THB
Spread / Average Target 22,3%
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Managers and Directors
Auttapol Rerkpiboon President, CEO, Secretary & Director
Pannalin Mahawongtikul Chief Financial Officer
Thosaporn Sirisumphand Chairman
Wittawat Svasti-Xuto Chief Technology & Engineering Officer
Don Wasantapruek Independent Director
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