IRPC to restructure into 5 business units

Thailand’s integrated oil refiner and petrochemical manufacturer IRPC is restructuring into five business units. The five planned units are oil refining, petrochemicals, power plants, ports and property. The restructuring plan is scheduled to be complete within this year. This will help the Thai major to better utilise assets and get a clearer business direction. Though it is a large organization, it is structured vertically- making efficient managing of the organisation difficult. Currently, only 60% of total assets worth Bt107.249 bln are working assets. The non-working assets are mostly in the ports and property areas. The company will position oil refining, petrochemicals and power plants as the main businesses. Partners are sought for the ports and property segments if opportunity fro growth presents itself, else the company could consider a sell off.
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