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SABIC sells Polymershapes to US Blackfriars

by ChemOrbis Editorial Team -
  • 08/09/2016 (13:41)
According to a statement on the company’s website, SABIC has agreed to sell its Polymershapes distribution business to US firm Blackfriars Corp. The divestment transaction is subject to customary closing conditions and is expected to be completed in the last quarter of this year. SABIC gave no financial detail regarding the transaction value.

Polymershapes is the world’s largest distributor of plastic sheet, rod, tube and film, serving over 35,000 customers with a distribution network of more than 75 branches in the United States, Canada, Mexico and Chile.

The company reported that the sale of Polymershapes will not materially impact the value of SABIC’s assets, its financial standing, or the strategic course of its businesses.
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