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09 March 2007

TOYO AND TOYO-THAI JOINTLY AWARDED LARGE POLYETHYLENE PLANT IN THAILAND

Toyo Engineering Corporation (TOYO) and Toyo-Thai Corporation Ltd. (Toyo-Thai) have respectively received the Supply Contract (offshore service contract) and the Construction Contract (onshore service contract) on a lump-sum basis for the linear low density polyethylene (LLDPE) plant with a capacity of 400,000 tons per year for PTT Polyethylene Company Limited (PTTPE), a wholly owned subsidiary of PTT Chemical Public Company Limited, at Padaeng Industrial Estate in Thailand. The plant is scheduled to be completed by the end of October 2009. This LLDPE plant based on Univation technologies is a down stream project of 1,000,000 tons per year ethylene plant which were awarded to TOYO and Toyo-Thai in September 2006. The polyethylene produced by this plant will be used in various kinds of product such as packaging, containers, garbage bags, plastic films and etc.

This is the " Global Toyo" (*) project which TOYO undertaking the offshore supply works and Toyo-Thai undertaking onshore construction works will closely coordinate the total project works until completion of the project. Besides TOYO and Toyo-Thai, Toyo-Korea will be participating in the front end engineering work and a part of offshore supply works. Toyo-Malaysia also dispatches engineers to Toyo-Thai to support onshore engineering works.

This will be the second major project which TOYO and Toyo-Thai are jointly awarded from PTTPE.

(*)Global Toyo: The structure in which Toyo group companies operate harmoniously both the integrated business across individual company& rsquo s border and the autonomous business within its border.

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