Perstorp acquires full ownership of polyol supplier Shandong Fufeng Perstorp Chemical

Perstorp has completed a transaction to acquire its minority stake in the joint venture  Shandong Fufeng Perstorp Chemical, which owns and operates the Zibo site in China. Perstorp is currently the sole owner of the polyol manufacturing plant.

Perstorp is a sustainable solutions provider. The transaction underlines Perstorp's continued strong commitment to the Chinese and Asian markets. This is also fully aligned with the company’s strategic direction and sustainability agenda.

Shandong Fufeng Perstorp Chemical Co., Ltd. located in Zibo is a joint venture established in 2007 by Perstorp and its Chinese partner Shandong Fufeng Hongjin Investment. Taking full ownership will ensure that Perstorp can continue to develop the site. Perstorp can work on substantial upgrades to the site to maintain the competitiveness of the Zibo site.

"Delivering our long-term strategic direction and our 2030 sustainability goals means we need to evolve our business and the way we operate across our bases. Our goal is to continue to develop safety, sustainability and operational excellence at our Zibo site. ” Magnus Lannér, Executive Vice President, Integrated Supply Chain.

Perstorp has developed an actionable roadmap outlining practical activities to lower greenhouse gas emissions, reduce waste and conserve fresh water. It also aims to achieve sustainable transformation across the entire value chain. For operations at the Zibo site, the Scope 1 roadmap contains multiple projects. It is designed to reduce emissions while minimizing waste generation and water consumption.

As part of the transaction, the operations at the Zibo site have been renamed Shandong Perstorp Chemicals.