PTT Global Chemical Co. Ltd. is buying a 49% share in the UK-based Revolve Group Ltd (RGL), valued at £6.4m (€7.3m).
In a filing with the Thai stock exchange, the chemical company said the acquisition on 30 Oct was part of its business strategy to expand investment in the downstream segment and enhance the value chain of performance chemical products.
Based in Northampton, the UK, RGL is a major producer of rotomoulding plastics materials, mainly using LLDPE as feedstock.
With production facilities in the UK, Poland, Australia, New Zealand, and Malaysia, RGL has a significant market share in Europe and Oceania.
The transaction is expected to be completed within the first quarter of 2019.