SAWT BEIRUT INTERNATIONAL

| 4 October 2022, Tuesday |

Sabic to buy Swiss group Clariant’s 50% share in Scientific Design

Sabic, the Middle East’s largest petrochemicals firm, has agreed to entirely buy Scientific Design, a US-based catalysts developer, from Swiss speciality chemicals maker Clariant.

If all relevant permits are obtained, the transaction is scheduled to finalize in mid-2022.

It will give Sabic complete control of Scientific Design, which is now a 50-50 joint venture between Clariant and the Saudi firm.

“Catalysts are the backbone of our company,” Sabic’s vice chairman and CEO Yousef Al-Benyan stated. “The purchase of Scientific Design will improve our non-cyclical technology-oriented speciality business and get us closer to our long-term aim of being a worldwide leader in specialties.”

Sabic stated that the move is intended to get a larger portion of the specialty market. Last year, the Saudi petrochemicals corporation announced intentions to create its specialties section as a separate strategic business entity to capitalize on industry development possibilities.

“Catalysts are the backbone of our company,” Sabic’s vice chairman and CEO Yousef Al Benyan stated. “The purchase of Scientific Design will improve our non-cyclical technology-oriented speciality business and get us closer to our long-term aim of being a worldwide leader in specialties.”

Scientific Design has been a joint venture for over 20 years, after Sabic’s 50% ownership of the company in 2003.

It employs over 170 people worldwide and is a licenser of high-performance process technology as well as a developer of catalysts utilized in over 100 facilities in over 30 countries.

Sabic can realize fresh development possibilities by completely matching mutual capabilities, according to the company.

Sabic’s specialties division manufactures items such as specialist engineering thermoplastic resins and compounds, composites, thermosets and additives, additive manufacturing services, and catalyst and process technologies.

    Source:
  • The National News