Saudi Basic Industries: SABIC acquires Clariant’s 50% stake in Scientific Design

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SABIC, a global leader in the chemical industry, has signed an agreement to buy Clariant’s 50% stake in specialty company Scientific Design, currently a 50/50 joint venture with SABIC.

Subject to regulatory approval, expected in mid-2022, the transaction will give SABIC full ownership of Scientific Design, which is a leading licensor of high performance process technologies and producer of catalysts.

This move is aimed at securing a larger share of the specialty market. Last year, SABIC repositioned its Specialties division as a stand-alone strategic business unit to unlock organic and inorganic growth opportunities independent of commodity dynamics.

SABIC Vice President and CEO Yousef Al-Benyan said, “Enablers are the foundation of our business. The acquisition of Scientific Design will strengthen our technology-focused non-cyclical specialty business and bring us closer to our long-term goal of becoming a global specialty leader. This is a growing global market and the Middle East region alone supplies almost $1.5 billion in catalysts per year. We recognize the opportunity to help meet the growing demand for catalysts, to increase security of supply and the level of innovation with the industry. ”

With its key manufacturing facility and headquarters in New Jersey, USA, Scientific Design operated as a joint venture for nearly 20 years after SABIC acquired 50% of the business in 2003. more than 170 people worldwide, it is a leading licensor of high-performance process technologies and a developer of catalysts used in more than 100 plants in more than 30 countries.

Scientific Design is a recognized leader and a strategic asset for SABIC that can enhance and complement the high performance capabilities of SABIC’s Specialties business. For nearly 20 years, it has thrived as a SABIC joint venture, securing a position at the forefront of innovation and sustainability in the chemical industry. By fully aligning mutual strengths, SABIC can realize new growth potential.

SABIC’s Specialties business manufactures highly differentiated products including specialty engineered thermoplastic resins and compounds, composites, thermosets and additives, and additive manufacturing solutions, as well as catalysts and process technologies.

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SABIC – Saudi Basic Industries Corporation SJSC published this content on February 02, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on February 02, 2022 15:18:06 UTC.

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