PCG Managing Director and CEO Ir. Mohd Yusri Mohamed Yusof says the deal is part of PCG’s “stepping out” strategy and creates a new platform for growth in specialty chemicals. “It also goes beyond earnings potential; Perstorp is a strategic fit with similar values and talented workforce who are experts in the industry,” he adds.
PCG will “strive” to ensure the timely completion of Perstorp’s growth projects in a safe and cost-effective manner. PCG flagged Perstorp’s Project Air, which looks to move replace fossil raw materials with recycled and biobased feedstock in the production of methanol. At full capacity, Project Air will reduce global CO2 emissions with close to 500,000 metric tons per year from today’s levels, corresponding to 1% of current emissions in Sweden.