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In this Edition May 2012 |
LEAD FEATURE |
COMPANY NEWS |
MATERIALS NEWS |
MACHINERY NEWS |
EXHIBITION NEWS |
INJECTION MOULDING ASIA |
RUBBER JOURNAL ASIA |
 ELECTRONIC ISSUE |
PRA June-July 2012 Electronic Issue Now Available |
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Company News
Thai firm buys Japanese chemical unit
T
hai refiner and petrochemicals firm IRPC, a subsidiary of Thai national oil company PTT, is acquiring a 25% stake in UBE Chemical for 5.3 billion baht. UBE has facilities of 220,000 sq m in IRPC's industrial estate in Rayong province and obtains most of its feedstock from IRPC.IRPC will subscribe to 193.48 million new shares to be issued by UBE Chemicals and buy a further 75 million existing shares from UBE Industries, it said in a filing with the Stock Exchange of Thailand (SET).
Founded in 2010, UBE Chemicals at present has a paid-up capital of 8.8 billion baht. The company is 92.67% owned by UBE Industries, 5.49% by Japanese trading company Marubeni Corporation and 1.84% by others.
Upon the issue and offering of new shares to IRPC, the registered capital of UBE Chemicals will rise to 10.74 billion baht. Last year, UBE Chemicals reported revenue of 15.7 billion baht for a net profit of 1.77 billion, up from 1.03 billion in 2010.