7. Sime Darby to jointly run Cognis with Thais

The venture is to take effect later this year KUALA LUMPUR: Thailand-based PTT Chemical International Private Ltd will team up with Sime Darby Plantation Sdn Bhd to run Cognis Oleochemicals. Sime Darby has a 50% stake in Cognis Oleochemicals, the world's largest producer of natural-based oleochemical products. PTT Chemical has bought the other 50% stake from Cognis BV for 104 million euros (RM536mil) in cash. PTT Chemical said in a statement that under the joint-venture agreement signed yesterday, Sime Darby and PTT Chemical would share control of Cognis Oleochemicals and have an equal number of directors on the board. There would be no change in the current Cognis Oleochemicals management team, it said. The joint venture will take effect on completion of the share purchase transaction with Cognis BV, expected in late... [read full story]