SABIC, Clariant to form new specialty chemicals business
by ChemOrbis Editorial Team - content@chemorbis.com
According to an official press release, Saudi SABIC and the Switzerland-based Clariant AG have signed a memorandum of understanding (MOU) to create a new, high-performance materials unit as a stand-alone business.
The new unit is expected to merge SABIC’s specialties business and Clariant’s additives and high-value masterbatch offerings. The process is anticipated to take place until the end of 2019, the press release stated.
The announcement followed the recent regulatory approvals of SABIC’s acquisition of a 24.99% stake in Clariant. SABIC, which became the largest shareholder of the Swiss company, stated that they currently have no plans for a full takeover.
The new unit is expected to merge SABIC’s specialties business and Clariant’s additives and high-value masterbatch offerings. The process is anticipated to take place until the end of 2019, the press release stated.
The announcement followed the recent regulatory approvals of SABIC’s acquisition of a 24.99% stake in Clariant. SABIC, which became the largest shareholder of the Swiss company, stated that they currently have no plans for a full takeover.
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