Japan“s Asahi Glass to buy out Thai caustic soda joint venture

Japan“s Asahi Glass Co. is to take over a Thai caustic soda joint venture-Thai Srifuengfung & Phanichewa Group-in September this year, by acquiring the stakes currently held by local joint venture pa…

Japan“s Asahi Glass Co. is to take over a Thai caustic soda joint venture-Thai Srifuengfung & Phanichewa Group-in September this year, by acquiring the stakes currently held by local joint venture partner, Thasco Chemical Co, officials at Asahi said recently. Asahi Glass currently owns a 45% equity stake in the joint venture. This share would be increased to 94.9% after buying out Thasco“s holdings for about JPY 2.4-billion (US$19-million). Asahi was also considering eventually buying up the remaining 5.1% share held by other local investors. Thasco has a production capacity of 216,000 mt per year of caustic soda and 294,000 mt per year of hydrochloric acid. In Japan, Asahi Glass has a total caustic soda capacity of 884,500 mt per year. Asahi estimates that Thailand“s demand for caustic soda is likely to grow 4% annually over the next few years.