region across the world. Its core marketing strategies is to leverage its strength of having production bases in three regions across the world to access customers and cater to their needs promptly. In addition, Vencorex places importance on customer relations and has a research and development unit that specializes in developing new products and applications. The company also strives to provide technical services that meet customer needs. Vencorex’s main customers have been in Europe, Middle East, Africa, and the U.S. However, after the commercial operation of its Thai plant, Vencorex has expanded to HDI and HDI derivative markets to Asia in response to the rapidly growing demand in Asia, especially in China, India, and South Korea. PTTAC is the only AN producer in Southeast Asia and the world’s first plant to use propane as feedstock instead of propylene. It is also a MMA producer and uses acetone cyanohydrin (ACH), which is a byproduct of the AN plant, as feedstock. AN and MMA are sold both domest ical ly and internationally. PTTAC’s main competitors for AN in the region are China, Taiwan, South Korea, and the U.S. On the other hand, there are both domestic and international competitors for MMA; the latter include Singapore, South Korea, and Saudi Arabia. GCO is a manufacturer of propylene oxide (PO) that uses PO production technology from Japan’s Sumitomo Chemical. Targeting both domestic and international markets, GCO delivers the majority of its PO to GCP and exports a portion to China, India, South Korea, Taiwan, among others. GCP is a polyols producer who has received production technology and formulation from Sanyo Chemical, a joint venture partner. It seeks to create customer bases both domestically and international through the sale of standard-grade products and high-grade R&D products. In the previous year, GCP began exporting its products to 17 countries worldwide, namely Thailand, India, Vietnam, Indonesia, Malaysia, China, Peru, Brazil, Bangladesh, Philippines, Turkey, Singapore, Sri Lanka, Nepal, Pakistan, Taiwan, and Nigeria. allnex is a world leading manufacturer of industrial coating resins and is widely regarded for its heritage and leadership position in terms of product development and innovation, technology and global reach. With 23 research and development centers across the world and more than 1,000 coating patents, it is also the leader in various technologies, such as high-end waterborne, high-solid solventborne, powder coating resins and UV-curable resins. allnex is focused on the higher value industrial coatings and inks resins segment, and its product portfolio is predominantly composed by green technologies and therefore is well positioned to capture the growth driven by trends in various regions towards green technologies. allnex manufacturing facilities are active in 34 sites across 3 regions: 10 sites in Europe with combined capacity of 547,000 tons per year; 8 sites in Americas with combined capacity of 290,000 tons per year; and 16 sites in Asia with combined capacity of 459,000 tons per year, serving customers in the said regions. SERVICES AND OTHERS In addition to the eight business units and performance centers, GC values businesses and activities that support business stability and comprehensiveness of the business chain. These various endeavors are listed below: 1) MARKETING AND SALES OF PRODUCTS AND PACKAGING MARKET DEVELOPMENT GC Marketing Solutions Co., Ltd. (GCM) is charged with marketing and sale of polymer-based products. Currently, GCM has authorized dealers both in Thailand and in all regions of the world. S.P. Petpack Inter Group Co., Ltd. and TBPI & Myanmar Star Company Limited (TPBIMS) support the development of plastic packaging markets to accommodate market growth in the Republic of the Union of Myanmar. As GC’s marketing arm, Solution Creation Co., Ltd. is in charge of selling GC products while seeking marketing opportunities in niche markets. It also works on product development to create added value and satisfy the diverse demand of various industries, including packaging, household chemicals, electronics, textile, food and dietary supplements. 2) LOGISTICS, JETTY, UTILITIES, AND INFRASTRUCTURE 2.1) LOGISTICS SERVICES GC Logistics Solutions Co., Ltd. (GCL) is charged with providing integrated logistics services for producers of polymers under GC Group. 57 BUSINESS OPERATION AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL REPORTS AND FINANCIAL STATEMENTS APPENDIX
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