SABIC has completed the acquisition of Clariant’s 50% stake in specialties company Scientific Design, said the company.
The purchase makes SABIC a 100% shareholder of Scientific Design, which is a licensor of high-performance process technologies and catalysts producer.
"The acquisition will deepen SABIC’s growth in the Specialties market. Last year, SABIC repositioned its Specialties division as a stand-alone strategic business unit to unlock organic and inorganic growth opportunities that are independent of feedstock dynamics," SABIC said.
The acquisition will help SABIC meet increasing catalyst demand, increase security of supply and the level of innovation with the sector, it added. The two companies signed an agreement on the deal in early February this year.
As MRC informed previously, in January 2022, ExxonMobil and SABIC announced the successful startup of Gulf Coast Growth Ventures world-scale manufacturing facility in San Patricio County, Texas. The new facility will produce materials used in packaging, agricultural film, construction materials, clothing, and automotive coolants. The operation includes a 1.8 MM metric tpy ethane steam cracker, two polyethylene (PE) units capable of producing up to 1.3 MM metric tpy, and a monoethylene glycol (MEG) unit with a capacity of 1.1 MM metric tpy.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC"s ScanPlast report, Russia's estimated PE consumption totalled 2,487,450 tonnes in 2021, up by 13% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market totalled 1,494.280 tonnes, up by 21% year on year. Deliveries of homopolymer PP and PP block copolymers increased, whreas shipments of PP random copolymers decreased significantly.
Saudi Basic Industries Corporation (SABIC) ranks among the world's top petrochemical companies. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
mrchub.com