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.

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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 and in 2017 transferred its share to its chemical flagship PTT Global Chemical Public Company Limited (PTTGC). The current HMC Polymers shareholder structure is:
  • PTTGC: 41%
  • LyondellBasell: 29%
  • Thai Investors: 30%

PTT is Thailand’s leading energy corporation with revenues of more than THB 2 trillion ($65 billion), and through its chemical subsidiary PTTGC, the largest single shareholder in HMC Polymers. PTTGC commands a combined olefins and aromatics capacity of 9.26 million tons/year together with 280,000 barrels/day of crude oil and condensate refining capacity, making it Thailands largest and ASEAN’s leading integrated petrochemical and refining company.

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 Industries
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 and Spherizone processes for polypropylene. These licenses enable the company to construct and operate the three PP production lines and to sell the respective products globally.

Thai Investors
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.