Thailand-based national oil company PTT's petrochemical subsidiary, PTT Chemical announced on July 23 that it would acquire a 50% stake in Malaysia-based Cognis Oleochemicals(H.O.: Kuala Lumpur) from Cognis GmbH, German-based major chemical company, for 104 million euros.

Cognis Oleochemicals is a joint venture of Cognis and Sime Darby Plantation (Malaysia), the world's largest producer of palm oil, which has production bases in Malaysia, Germany, the US and Canada, manufacturing fat acid, fatty alcohol and glycerin. Its total annual production capacity is 962,000 tons.