Alujain to proceed with strategic plan, consider NATPET merger

Logo of Alujain Holding Corp.

Alujain Holding Corp. will continue the implementation of its strategic plan aimed at boosting assets and improving business operations, according to a bourse filing. 

Alujain will increase its ownership in National Petrochemical Industry Co. (NATPET) and will study the option of merging NATPET with Alujain to maximize efficiency and bolster synergies to serve the interests of both companies.  

Alujain is also studying the optimum usage of the company’s treasury shares, exceeding 19.8 million shares, in coordination with stakeholders, provided that priority will be given to using them to purchase additional shares in NATPET via swaps to reach a complete merger, after obtaining the required approvals.

Alujain indicated it will maintain a balanced dividend payment policy, together with a robust solvency and an ability to invest and grow business in the future.

The plan comprises building and operating a new plant to produce propylene, polypropylene and other specialty products after obtaining the necessary regulatory approvals.

NATPET is 75.37% owned by Alujain.

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