Hexamethylene Diisocyanate (HDI) and HDI Derivatives: HDI is an intermediate petrochemical product used in the production of polyurethane (PU) coating, which plays a prominent role in construction and automotive industries. PU coating can also be applied to wood, metals, plastics, furniture, and vehicles to enhance their glossy and scratch-resistant properties. GC produces HDI and HDI derivatives through Vencorex Holding SAS (“Vencorex”), a joint venture between PTTGC International (Netherlands) B.V. (GC’s affiliate) and Perstorp Holding AB (“Perstorp”) from Sweden. Vencorex has 3 production plants in France, United States, and Thailand. Acrylonitrile (AN): an intermediate petrochemical widely used as primary feedstock for the production of the following acrylonitrile polymers. (1) Acrylonitrile butadiene styrene (ABS) is generally molded into exterior shells of electrical and electronics appliances due to its strength and resistance to scratch, and adjustability. (2) Acrylic fibers or other synthetic fibers are used as components in the production of garments, carpets, and other fibers. (3) Acrylamide is used in wastewater treatment and petroleum drilling industries. (4) Nylon 6, 6 is widely used in the automotive industry to produce car parts due to its well-balanced hardness and toughness as well as good shape retention, which give the material superior resistance to impact, friction, heat, chemicals to regular plastics. (5) Nitrile Butadiene Latex (NBL) is synthetic rubber used in the manufacturing of medical gloves. (6) Carbon fiber compounds are lightweight high-strength material used in the aviation and sports industries and playing an increasingly significant role in the automotive industry. Methyl Methacrylate (MMA): an intermediate petrochemical and the main feedstock for polymethyl methacrylate (PMMA) and PMMA acrylic sheets, which are components of furniture, commercial light boxes, smartphone screens, television screens, and computer screens. They are also an ingredient for emulsion and paint, commonly used in the construction industry as MMA helps improve adhesion and durability and prolong product life. GC manufactures AN and MMA through PTT Asahi Chemical Company Limited (PTTAC), whose plant is located in WHA Eastern Industrial Estate, Rayong. Propylene Oxide (PO): an intermediate petrochemical used as feedstock primarily for polyols, followed by propylene glycol. Polyols: downstream petrochemicals used as feedstock for the production of polyurethane (PU). They are sold both in the form of feedstock and as Premix Polyols – a mixture of various polyols and additives co-developed with customers to achieve desired properties, such as the softness of PU foam during molding. Polyurethane: a product with various industrial applications and is mostly used to produce polyurethane foam (PU foam), which is found in automotive parts, bedding, furniture, shoes, buildings, electrical appliances, electronics, and packaging. Currently, GC has entered PO production through GC Oxirane Co., Ltd. (GCO), which is 100% owned by GC. The Company also produces polyols/Premix Polyols through GC Polyols Co., Ltd. (GCP), a joint venture between GC, Sanyo Chemical Industries, and Toyota Tsusho Corporation. The central strategy is to become an integrated manufacturer of feedstock for polyurethane and cater to the rising demand in the market. Both plants are located in in WHA Eastern Industrial Estate, Rayong. Indust r ial Coat ing Resins and Addi t ives: a polymer product which binds all other components of a coating together into a film and to the substrate (e.g. car door panel) providing the desired properties. Additionally, there are a range of additives that can be introduced into the formulations to improve particular technical properties of the film (e.g. anti-corrosion, UV resistance), as well as crosslinkers which are used to strengthen the network between the binding resins molecules and to increase the film hardness. 55 BUSINESS OPERATION AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL REPORTS AND FINANCIAL STATEMENTS APPENDIX
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