Sumitomo and NFC of Thailand Establish Joint Venture to Operate Sulfuric Acid Tank Terminal Business

Sumitomo Corporation has established a joint venture with NFC Public Company Limited, a tank terminal operator in Thailand, to operate sulfuric acid tank terminal business. By acquiring this strategically located terminal and leveraging its expertise in sulfuric acid terminal operations, Sumitomo aims to improve operational safety and reliability of logistics services while creating a hub to expand its business footprint in neighboring Asian countries.

NFC is a logistics-focused company engaged in warehousing, tank terminal operations, and ammonia distribution for sulfuric acid, ammonia, and gasoline. Its tank terminal is located in the Port of Maitaph in Rayong Province, which is conveniently located to the eastern region of Thailand. The region is densely populated with petrochemical facilities and has a strong demand for sulfuric acid. In addition, NFC's rich operational experience ensures reliable operation and stable performance of the tank terminal.

The establishment of this new joint venture marks an important step for Sumitomo Corporation in strengthening Thailand's logistics infrastructure. Previously, Sumitomo Corporation has been actively engaged in sulfuric acid distribution business in Thailand. By acquiring the local terminal, Sumitomo Corporation will strengthen its foundation in Asia, a strategic focus region.

Sumitomo Corporation owns Interacid Group, a global major sulfuric acid trading company with operations in 16 countries. Interacid Group handles approximately 30% of the world's seaborne sulfuric acid trade and is well known for its trading capabilities and tank ownership. This enables the group to provide flexible procurement and supply services and reliably deliver required quantities to customers as needed. With Interacid's operational expertise, Sumitomo Corporation will expand its logistics capabilities in Thailand by improving service quality and expand its sulfuric acid terminal business in other Asian countries in the future by strengthening connections with regional suppliers.

Since the 2010s, Sumitomo Corporation has strengthened its supply chain by expanding its distribution business in Thailand and acquiring tank terminal businesses in the United States, thereby enhancing its procurement, sales, warehousing and logistics capabilities.