Allnex, the world’s leading supplier of industrial coating resins and additives, announced on July 12 that it will sell 100% of its shares to Thai refinery company PTT Global Chemical PCL (hereinafter referred to as “PTTGC”). The transaction price is 4 billion euros (about 30.6 billion yuan). It is expected that the cash transaction will be completed by the end of December, but it needs to obtain antitrust approvals from 10 jurisdictions. At present, Allnex maintains independent operation, the company name remains the same, and the existing business and personnel remain the same.

Allnex is the world’s leading supplier of coating resins, headquartered in Frankfurt, Germany. Its products are widely used in architectural coatings, industrial coatings, protective coatings, automotive coatings, and special coatings and inks. At the same time, Allnex focuses more on the two business segments of liquid coating resins and performance coating resins. Performance coating resins include powder coating resins, UV-curable coating resins and cross-linking agent products. In September 2016, Allnex Group completed the acquisition of Nupes Industrial Group for US$1.05 billion and became the world’s largest manufacturer of coating resins.

This has already been the third “change of ownership” of Allnex, which can be traced back to Belgium UCB Special Surface Technology Co., Ltd. In March 2005, Cytec purchased UCB surfactant business for US$1.8 billion, and Allnex became the coating of Cytec Co., Ltd. The resin business unit has established its position as a mainstream supplier of coating resins. The second time was that in 2013, Allnex was acquired by Advent for US$1.15 billion. In July 2021, Allnex “changed ownership” for the third time and announced that it had joined the Thai petrochemical giant-Global Chemical Co., Ltd., a subsidiary of Thai National Petroleum Co., Ltd.
Allnex said that after joining PTTGC, it will not only get more investment opportunities and realize further expansion in emerging markets, but also, allnex’s existing global operating strength will also help PTTGC as a strategic long-term investor to expand the Asia Pacific Regional influence. With a leading green innovation technology portfolio and R&D network, Allnex supports PTTGC’s commitment to environmental protection innovation and advanced technology. Allnex and PTTGC will jointly respond to the challenges of sustainable development in the global market.
PTTGC, as a global chemical company under the Thai petrochemical giant PTT Group (Thailand National Petroleum Co., Ltd.), is headquartered in Thailand. The company provides high-quality chemical products to customers around the world. PPT Group is one of the two major departments (Ministry of Mineral Resources and Petroleum Administration) under the Ministry of Industry of Thailand. As an economic entity, PTT represents the government to exercise the management rights of oil and gas and other resources in the territory of Thailand. Its main business is to be responsible for the exploration and development of oil resources owned by the government; it is responsible for oil refining and storage and sales of oil products. ; Responsible for oil utilization, management and transportation, and natural gas processing. It is a listed company controlled by the Thai government.
As the world’s largest coating and chemical market, China is also the most important market for Allnex. Therefore, it has continuously increased its investment in China. Allnex has invested and developed in China for more than 20 years. On March 5 this year, Allnex announced that Allnex Technology Materials (Jiaxing) Co., Ltd. was formally established, and at the same time, it accelerated the construction of a world-class environmentally friendly high-performance resin production base, and promoted green innovation to meet the demand for high-quality coatings in China and the global market. The growing demand for resins and additives.

The Zhanxin Pinghu Dushan Port production base covers an area of about 150 acres, and the initial large-scale construction investment is about 200 million US dollars. It will build a world-class industrial environmental protection resin production base second to none in China in accordance with world environmental protection standards. 15 production lines will be constructed step by step according to market demand; after completion, they will mainly produce waterborne epoxy coating resins and curing agents, waterborne polyurethane resins, waterborne radiation curing resins, phenolic coating resins, polyester acrylate resins, amino resins and radiation curing special resins. Such products are expected to be completed and put into production in 2022.