Aster has successfully completed the acquisition of Chevron Phillips Singapore Chemicals Pte Ltd (CPSC), marking a significant step in its strategy to enhance its integrated chemicals capabilities in the Asia Pacific region. The acquisition includes a high-density polyethylene (HDPE) manufacturing facility on Jurong Island, which will now operate as Aster Polymer Solutions Pte Ltd.
This strategic move is set to bolster Aster’s position as a leading energy and chemicals provider in the region. The newly acquired facility, with an annual capacity of 400 KTA, will be integrated into Aster’s existing operations, complementing its refinery on Bukom Island and other chemical assets on Jurong Island. This expansion is expected to meet the increasing demand for high-quality polyethylene products across Southeast Asia.
Erwin Ciputra, Group CEO of Aster, stated, “The acquisition of CPSC directly enhances our integrated manufacturing platform. With CPSC’s polymer capabilities and our existing feedstock and processing infrastructure, we can offer a broader range of solutions to customers across packaging, consumer goods, and industrial sectors.”
Aster Group, a joint venture led by Chandra Asri and Glencore, has been a prominent provider of energy, chemical, and infrastructure solutions in Southeast Asia since 1992. The acquisition of CPSC is anticipated to strengthen Aster’s ability to respond to evolving market needs and build a more resilient chemicals ecosystem across the Asia Pacific.
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