Titan Chemicals Corp Bhd has announced the completion of its proposed acquisition of 100% of PT Petrokimia Nusantara Interindo (PT PENI) via its subsidiary, Titan Petchem (M) Sdn Bhd. This RM75mil deal makes Titan Chemicals the largest polyolefin producer in South-East Asia. PT PENI would be re-branded to PT TiTan Petrokimia Nusantara.
PT PENI is the largest Indonesian polyethylene producer and owns a petrochemical complex in Cilegon, Banten Province, with 3 LLDPE and HDPE lines with a capacity of 450,000 tpa. The acquisition will increase the company's polyolefin production capacity by 50 percent.
22-Mar-06 
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