“We want to strengthen our position on the Asian market, with production of specialty products in the region. It allows us to fully utilize the potential that our site in Singapore and its geographical location have to offer,” says President and CEO Martin Lundin. “This decision is fully in line with the HDI & Derivative strategy announced last year with the need to extend HDI derivative capacity and establish ourselves with production of 12,000 MT/year in Asia.”
Perstorp is already established in Singapore with a production facility for manufacturing PIA. Singapore is logistically well located and is now home to one of the top ten petrochemical hubs in the world.
“Yearly average market growth for HDI & derivates is around 6%. In a fast growing market, a presence in Asia will complete our industrial footprint for HDI and derivates: Pont-de-Claix in France, Freeport in the US and now Singapore”, says Eric Aubay, Vice President, HDI & Derivatives.
Perstorp will also establish new capacity for 2-EHA in the Singapore unit with an expansion of 40,000 MT/year. This production is planned to start in 2013.