MOSCOW (MRC) -- Saudi Basic Industries Corp. said it will consolidate three of its technology and innovation operations into its Selkirk facility, reported Rubber&Plastics News.
The firm will close its Pittsfield Polymer Processing Development Center, located in Pittsfield, N.Y., and its facility in Exton, Pa.
The moves are expected to be complete in 2017, once necessary modifications are done at the Selkirk site.
"This integration will not only drive important efficiencies, it will also merge material science, process engineering and application development into a collaborative environment that will lead to new innovation breakthroughs," Awadh Al-Maker, executive vice president, Sabic Technology & Innovation, said in a statement.
Sabic specializes in engineering thermoplastic resins and compounds, such as composites, functional surfaces and substrates, and also offers additive manufacturing solutions, part design, finished parts and materials processing. It serves industries such as mass transportation, health care, displays and electronics, and architectural specialties.
"A collaborative R&D environment will result in a wide variety of problem-solving options for our customers and will accelerate our development cycle," Thierry Materne, vice president, Technology & Innovation, said in a statement.
As MRC wrote previously, in early 2015, Sabic and South Korean petrochemical company SK Global Chemical inaugurated a new industrial plant to manufacture a range of high-performance polyethylene products using the cutting-edge Nexlene Solution Technology. The 50-50 joint venture holding company, SABIC SK Nexlene Company (SSNC) was established last July and is headquartered in Singapore. Its wholly-owned subsidiary, Korea Nexlene Company (KNC), owns the plant in Ulsan, which has an annual capacity of 230,000 tons. The aggregate purchase price for the technology and plant is approximately USD 640 million.
Sabic, headquartered in Riyadh, Saudi Arabia, claims to be the world’s third largest diversified chemical company, producing polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and agri-nutrients. It recorded a net profit of USD6.2 billion in 2014 and posted sales of USD50.2 billion. Sabic’s businesses are grouped into Chemicals, Polymers, Agri-Nutrients, Metals and Innovative Plastics. It has hubs in five regions - the U.S., Europe, Middle East, Southeast Asia and Northeast Asia - operating in more than 50 countries with 40,000 employees worldwide. The Saudi Arabian Government owns 70 percent of Sabic shares with the remaining 30 percent publicly traded on the Saudi stock exchange.
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