TAGS: Sustainability / Natural Solutions
Perstorp has closed a deal to buy out its minority partner in the joint venture Shandong Perstorp Chemical. It has owned and operated Site Zibo in China.
Perstorp is now the sole owner of the polyol manufacturing operation, located in Zibo, Shandong province.
Strong Commitment to China and Asian Market
The deal underscores Perstorp’s continued strong commitment to China and the Asian market and is fully in line with the company’s strategic direction and sustainability agenda.
Shandong Fufeng Perstorp Chemical at Site Zibo was established as a joint venture between Perstorp and their Chinese partner Shandong Fufeng Hongjin Investment in 2007. Gaining full ownership will ensure that Perstorp can continue developing the site and can aim to make substantial site upgrades to safeguard the competitiveness of Site Zibo.
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Reaching our long-term strategic direction and our sustainability targets for 2030 means that we need to develop both our business and the way we operate our site. Our ambition is to continue developing safety, sustainability, and operational excellence at Site Zibo ” says Magnus Lannér, EVP Integrated Supply Chain.
Based on the company’s ambitious sustainability targets for 2030, Perstorp has developed actionable roadmaps outlining hands-on activities to lower greenhouse gas emissions, reduce waste, save fresh water, and enable sustainable transformation throughout the value chain. For the operations at Site Zibo, the Scope 1 roadmap contains a number of projects designed to reduce emission while also minimizing waste production and water consumption.
As part of the deal, the operations at Site Zibo have changed its name to Shandong Perstorp Chemical. Its former name was Shandong Fufeng Perstorp Chemical.
Source: Perstorp