Founded by Wilhelm Wendt in Perstorp, in southern Sweden 140 years ago, we are still leading the way in specialty chemicals. Our founder might never have imagined the success of the modern enterprise we know as Perstorp today, a global specialty chemicals’ company with products touching millions of people all over the world, every day.
You could resemble a successful company with a white shark. In its prime, it expands its territory, but if it dares to sit still for too long, it dies. Perstorp has a long track record of successfully reinventing itself through the years in order to become relevant for its time.
Perstorp founder Wilhelm Wendt registers his company, then named Stensmölla Kemiska Tekniska Industri. The company starts to produce acetic acid, tar, charcoal and wood alcohol.
The emerging industries in Sweden become large consumers of plastic such as Perstorp's innovation Isolit (similar to bakelite). Production of laminates begins.
Despite a period of financial crises, Perstorp regularly introduces new plastic products. One of these, beech parquet floors, is a great success, and leads to the creation of Sweden’s largest parquet factory.
Perstorp opens Scandinavia’s first modern plastics factory, with more than 10,000 different products – including everything from billiard balls to aerial masts.
The company undergoes a rapid expansion in terms of size, employees and research, and begins supplying the paint industry with polyalcohols made from formalin, which become increasingly important for the company.
Refocus of its core business to become a world-leading specialty chemicals company.
The focus on specialty chemicals is completed and extensive capacity investments are made in order to meet growing market demand. At the end of the year, the private equity company PAI Partners acquires the Perstorp Group from Industri Kapital (IK Investment Partners).
Perstorp establishes a sales office in Shanghai for increased focus on the rapidly expanding Asian market.
Perstorp introduces new products to preserve animal feed and to promote the healthy growth of farm animals.
A new production facility for Neopentyl Glycol (Neo) was inaugurated in Zibo, China, operating alongside the existing Trimethylolpropane (TMP) plant that was established in 2008.
Perstorp’s head office moves to Malmö, Sweden.
A new production plant for Perstorp’s Oxo product was inaugurated in Stenungsund, Sweden, the largest investment in company history.
Perstorp adopted the bold sustainability ambition to become Finite Material Neutral. The world’s first portfolio of Pro-Environment Polyols was introduced to the market, including products that can contribute to a carbon footprint reduction of up to 80.
Owners, PAI Partners announced the transfer of their interest in Perstorp from the investment fund PAI Europe IV to a new fund managed by PAI Partners and backed by Landmark Partners and other co-investors. The divestment of the BioProduct business was finalized, and Perstorp started to explore new business opportunities in Animal Nutrition to improve the well-being of farm animals.
Perstorp divested its Capa business to Ingevity, and the proceeds were used to deleverage and strengthen its balance sheet, as well as to invest in growth areas. A new capital structure through a debt refinancing agreement came into force and Perstorp is now very well positioned to achieve its long-term strategic objectives.
This year, Perstorp, like most other businesses, has had to spend substantial time and effort to cope with the fallout from the COVID-19 pandemic. Focus has been to avoid disruptions to the business as well as to protect employees’ health. During the year, Perstorp also revisited its strategic positions, to be able to better capture the new challenges and opportunities arising from the changes in and acceleration of macroeconomic trends post Covid-19.
Perstorp was acquired by PETRONAS Chemicals Group Berhad (PCG),
Malaysia´s leading integrated chemicals provider and part of PETRONAS Group. With the acquisition, Perstorp is now PCG’s wholly-owned subsidiary.