Kuraray is partnering with GC and Sumitomo Corporation to open a highly engineered plastic manufacturing plant to develop Thailand's industrial capabilities in the EEC region

BANGKOK,April 7,2023 -- Kuraray Co.,Ltd. is partnering with PTT Global Chemical Public Company Limited (GC) and Sumitomo Corporation to open a manufacturing plant under the name of Kuraray GC Advanced Materials Co.,Ltd. and Kuraray Advanced Chemicals (Thailand) Limited. This manufacturing plant is designed to upgrade and develop competitiveness in the Eastern Economic Corridor (EEC) region,with the opening ceremony,held at WHA Eastern Industrial Estate in Rayong province,presided over by the Deputy Governor of Rayong province.

Kuraray is partnering with GC and Sumitomo Corporation to open a highly engineered plastic manufacturing plant to develop Thailand’s industrial capabilities in the EEC region

Acting Sub-Lieutenant Pirun Hemarak,the Deputy Governor of Rayong province,expressed his pleasure at having the honor of chairing the opening ceremony for the Kuraray GC Advanced Materials Co.,Ltd. and Kuraray GC Chemicals (Thailand) Co.,Ltd. project,explaining that this manufacturing plant will support government policy of promoting the Eastern Economic Corridor development to accommodate industrial progress,which is a key foundation for the country's own economic development. Rayong province already has the infrastructure to accommodate investment,having built confidence in the industry,and promoted economic progress throughout Rayong province and Thailand for quite some time already. He stated that he is confident that this project,equipped as it is with modern technology and environmentally friendly innovations,will create exciting opportunities for the local community,while enhancing living standards in parallel with ensuring the country's economic growth.

Mr. Hitoshi Kawahara,Representative Director and President of Kuraray Co.,Ltd.,stated that the construction of the Kuraray GC Advanced Materials manufacturing plant has been successfully completed and commercial production has begun due to the excellent support and cooperation of all parties,including government agencies,as well as our reliable partners: GC and Sumitomo. The isoprene business is expected to be one of the pillars of Kuraray GC's growth,the backbone of which is the reinforcement of the global supply chain system in response to increasing demand worldwide.

Dr. Kongkrapan Intarajang,CEO and President of PTT Global Chemical Public Company Limited (GC),stated that GC's role as a leader in the global chemical industry,means it has a commitment to sustainable business practices,balancing environmental,social,and economic factors in its journey toward a low carbon business model to enable business growth while reducing greenhouse gas emissions. This latest project aligns well with the company's long-term sustainable development strategy,which aims to expand the high-end petrochemical business to meet the growing demand from the automobile,electronics,and electrical industries. Additionally,this project supports the government's policy to promote investment in environmentally friendly and high-tech industries in the Eastern Economic Corridor (EEC),creating high value products,employment opportunities,and income to elevate Thailand's standing in the industrial sector. "This manufacturing plant is the result of a collaboration between partners with strong bonds,so we are confident that KGC will be one of the leaders in high-value product manufacturing,and be able to compete in the global market," Dr. Intarajang remarked.

Mr. Yoshiyuki Sakamoto,Senior Executive Officer of Sumitomo Corporation,stated that the collaboration of these three companies aligns with Sumitomo Corporation's business policy of creating value and sustainability. The strengthening of the partnership with Kuraray and GC is sure to play a key role in improving living standards and making the world a better place. Sumitomo Corporation will strive to ensure the success of this project.

Kuraray GC Advanced Materials Co.,Ltd. is a joint investment of three companies with access to cutting-edge technology and expertise: Kuraray Co.,Ltd.,GC,and Sumitomo Corporation. Kuraray Co.,Ltd. owns the advanced technology for producing Super Engineering Plastic Polyamide 9T (PA9T) under the brand 'GENESTAR' and Hydrogenated Styrenic Block Co-Polymer (HSBC) under the brand 'SEPTON',while GC provides the raw materials and public utilities for the project,and Sumitomo Corporation has a global marketing network to expand the market worldwide.

Kuraray GC Advanced Materials Co.,Ltd. is located in the WHA EasternIndustrial Estate,Muang District,Rayong Province,in the Eastern Economic Corridor (EEC) of Thailand. The manufacturing plant has a PA9T manufacturing capacity of 13,000 tons per year,and 16,000 tons per year for HSBC. Commercial operations began in February 2023,and the manufacturing plant has been responsible for creating job opportunities and generating income for the people of Rayong Province,with over 60% of the workforce from the local community.