Malaysia's Sime Darby inks oleochemicals deal with Thailand's PTTC

Palm Oil HQ Posted by Palm Oil HQ 35 days ago
Source: http://www.monstersandcritics.com
Added 35 days ago - Kuala Lumpur - Malaysian palm oil giant Sime Darby and Thailand's PTT Chemical on Wednesday signed an agreement to jointly own a major producer of oleochemicals in a deal costing the Thai company 104 million euros (164 million dollars).

PTT Chemical, the largest chemicals producer in Thailand, agreed to buy a 50-per-cent stake from the German chemicals maker Cognis in the Malaysian firm Cognis Oleochemicals, one of the world's leading producers of oleochemicals, or chemicals derived from biological oils or fats.

The other 50 per cent of the venture is held by Sime Darby, the world's largest listed palm-oil producer. The two companies would now share ownership and control of Cognis Oleochemicals.

The joint venture agreement was expected to take effect by the end of September.

Cognis Oleochemicals operates its business through 11 subsidiaries in Europe, the United States and Asia and two joint venture companies in Malaysia and China with a total oleochemicals production capacity it put at 962,000 tons a year.

The Kuala Lumpur-based company produces oleochemical products derived from natural renewable raw materials such as palm oil, palm kernel oil and other vegetable oils that are used in the making of detergents, cosmetics, textiles and plastic additives.

The company recorded sales of about 3.52 billion euros in 2007, it said in a statement.

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The Chart and table below show the latest Crude Palm Oil (CPO) Futures prices, as traded on the Bursa Malaysia Derivitives Exchange.


First trading session: Weekdays 10:30 a.m. to 12:30 p.m
Second trading session: Weekdays 3:00 p.m. to 6:00 p.m
Current Malaysian local time: 12:13:06 PM Thu, August 28th 2008

Palm Oil HQ Crude Palm Oil Futures Prices
1 USD = 3.3818 MYR Updated: 12:00:03 PM Thu, August 28th 2008
Month Open High Low Last Sett.p Change Volume O.P
Sep 20082,4372,4412,4372,4412,480-39131,466
Oct 20082,4622,4802,4622,4802,501-219512,503
Nov 20082,4622,4882,4522,4882,502-1467115,251
Dec 20082,4662,4902,4632,4902,504-14868,848
Feb 2009----2,518--572
Mar 2009-2,4652,520-2,189--0
0.00---2,50002,668-0
Jul 2009----2,511--2,374
Sep 2009---2,5510984-0
Nov 2009----2,507--424
Jan 2010----2,505--886
Mar 2010----2,503--219
May 2010----2,503--1,114
Jul 2010----2,503--36

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Average Historical Spot Settlement Price for Crude Palm Oil on the Bursa Malaysia Derivitives Exchange.

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