PTT Global Chemical Plc (PTTGC), the petrochemical arm of national oil and gas conglomerate PTT Plc, is maintaining its sales growth target of 7%, thanks to additional production capacity, including that from two newly acquired assets.
The company is positive about the growth prospects despite the need to shut down some oil refineries and olefin crackers for maintenance and the impact of the Russia-Ukraine war.
Greater sales are partly being attributed to the buyout of Frankfurt-based Allnex Holding GmbH from Advent Group in July last year, said Jittasak Soonthornpan, PTTGC's vice-president for corporate finance and investor relations.
