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PTT likely to merge its subsidiaries ATC & RRC

14
Feb '07
In few next months, PTT Plc is going to decide on the options to merge its subsidiaries.

As part of border strategy, company is planning to merge its subsidiaries Aromatics (Thailand) and Rayong Refinery Plc (RRC).

PTT is planning to keep one of the subsidiaries as core company and acquire other or establish new entity that would take both the firms.

Aromatics (ATC) expected a 10 percent hike in financial performance of current year.

In 2006, net profit of ATC reached THB6.4 billion, a year-on-year increase of 22 percent.

During this period, sales of the company stood at THB74.8 billion, a hike of 19 percent. Similarly, average price of the product also witnesses a sure of 17 percent to US$721 per ton.

This year, company has set aside an investment capital of $270 million, of which, $210 million will be used to set up second paraxylene plant.

It is also planning to invest in products like nylon to diversify itself from conventional products, paraxylene and cyclohexane.


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