The HMC Polymers joint venture ownership combines Thai business expertise, market knowledge and feedstocks with European technology and marketing to create a regional industry leader in the manufacture and sales of polypropylene.
HMC Polymers Joint Venture
On December 8, 1983 Himont (predecessor company of LyondellBasell), Hua Kee, Metro (Srikrung), and Bangkok Bank joined together to establish “HMC Polymers Company”.
In August 2006 PTT PLC became a shareholder of HMC Polymers. The current HMC Polymers shareholder structure is:
PTT Public Company Ltd.
Thai Investors: 30%
PTT is Thailand’s leading energy corporation with revenues of more than THB 2 trillion ($65 billion), and the largest single shareholder in HMC Polymers.
The company, which was privatised by the government in November 2001, conducts its business as national energy company and is the largest listed company on the Thai Stock Market. PTT is a fully integrated oil and gas business combining upstream, transmission, and downstream operations in the domestic oil and natural gas market as well as the international oil trade markets.
The purchase of 41% of HMC is consistent with the PTT’s petrochemical business strategy to expand its petrochemical business further downstream in order to benefit from being a fully integrated company.
LyondellBasell is the world’s third-largest independent chemical company with annual revenues of approximately $41 billion and more than 14,000 employees worldwide. LyondellBasell has 58 manufacturing sites in 18 countries on five continents and has sales in more than 100 countries.
The company participates in 16 significant manufacturing joint ventures globally, including HMC Polymers. Eleven of LyondellBasell’s joint-ventures are outside of Western Europe and the United States, primarily in regions that have cost-advantaged raw materials or high growth rates.
LyondellBasell licences industry-leading, proprietary process technologies for the manufacture of polyolefins. HMC Polymers holds LyondellBasell licenses for the Spheripol
processes for polypropylene. These licenses enable the company to construct and operate the three PP production lines and to sell the respective products globally.
The individual Thai investors collectively holding 30% of HMC Polymers consists of a group of leading local investors:
Bangkok Bank - a major Thai financial institution
Hua Kee - primarily active in paper manufacturing and distribution, real estate development, hotels, and petrochemicals
Metro Group - one of Thailand’s largest trading firms with a long history of plastics marketing experience in Thailand.