Perstorp Group, a sustainability-driven global specialty chemicals company, said that it is to be acquired by Petronas Chemicals Group Berhad (PCG). Established more than 140 years ago, Perstorp is a leading niche specialty chemicals player that develops sustainable solutions with focus on the Resins & Coatings, Engineered Fluids and Animal Nutrition markets. The company has a global sales presence, seven state-of-the art manufacturing sites in Europe, US and China (the 8th plant will be ready in India in 2023) and three research and development (R&D) centres worldwide with approximately 1,500 employees serving more than 2,600 customers globally. "Perstorp is an outstanding strategic fit for PCG and enables us to participate in attractive end-markets such as paints and coatings, construction, plastic additives, personal care and food, feed & nutrition, paints and coatings that share a robust growth outlook. This acquisition will also provide us critical talent, know-how, technological platforms and proven customer channels to address the pressing needs of the market for more eco-friendly and sustainable solutions," said PCG Managing Director and CEO, Ir. Mohd Yusri Mohamed Yusof.