Thai Oil Plc, the country's largest oil refiner, is expanding into the solvents industry by acquiring Shell's solvent production and marketing arm in Thailand and Vietnam.

Thai Oil signed the deal worth a total of $120 million yesterday with Shell Overseas Investment BV and Pattanakij Chemical Co for the Thailand business, and with Shell Company of Thailand Ltd and Shell Vietnam for the acquisition of the solvents business in Vietnam.

Source: Bangkok Post

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