- The collaboration will strengthen IRPC’s core business and allow the company to enter the automotive market quicker
- The development will cover safety, product lifetimes and operational efficiency to respond to other industries along with automotive
As per a report by the Bangkok Post, IRPC, the petrochemical subsidiary of state-owned PTT, has teamed up with Japan Polypropylene Corporation (JPP) to set up an electric vehicle (EV) business in Thailand. The report added that the company acquired 50 per cent of Mytex Thailand’s shares allying with JPP. This was done to penetrate the polypropylene (PP) compound automotive market along with plans to increase its market share in Southeast Asia.
Strengthen IRPC’s core business
The report added that Noppadol Pinsupa, president of IRPC said that the company signed the joint venture contract with JPP to acquire 50 per cent of Mytex Thailand’s shares. As per the report, IRPC’s PP compound production unit started operations in late 2017 with a capacity of 140,000 tonnes a year.
As per the report, Pinsupa added that collaboration will strengthen IRPC’s core business and allow the company to enter the automotive market quicker and increase competitive capabilities. The report added that the development will cover safety, product lifetimes and operational efficiency to respond to other industries along with automotive.
