Petronas Chemicals has an annual production capacity of more than 10 million tonnes. It posted an operating profit of $2.3 billion in fiscal 2009, according to its prospectus.

Petronas Chemicals Group Bhd. proposed to buy Sweden specialty chemical company Perstorp Holding AB in a bid to diversify existing businesses and capture new growth opportunities.

Malaysian state energy firm Petronas said on Tuesday it was studying the damage to interconnecting pipes caused by a fire last week at its refinery and petrochemical joint venture with Saudi Aramco.

Petronas hopes to complete the purchase, from the private equity firm PAI Partners, within four months. The oil company’s chemical unit, Petronas Chemicals, had sales in 2021 of $5.6 billion ...