Plastics Industry News
繁體 | 简体
Technology
Applications
CPRJ Webinar Ad
Main > Daily Market News > Article Content
| Print | Submit Article |
Last Page | More | Next Page
SABIC has agreed to sell its Polymershapes distribution business to Blackfriars Corp.
SABIC has agreed to sell its Polymershapes distribution business to Blackfriars Corp.

SABIC announced that it has agreed to sell its Polymershapes distribution business to Blackfriars Corp, a privately-held investment company.

The transaction remains subject to customary closing conditions and is expected to be completed during the fourth quarter of 2016.

SABIC highlighted that this sale will have no effect on the product distribution activities of its Specialties Strategic Business Unit (SBU). Similarly, the sale will not materially impact the value of SABIC's assets, its financial standing, or the strategic course of its businesses.

"Polymershapes is an industry leader with a solid strategy and has been a profitable business for SABIC," said Yousef Al-Benyan, SABIC Vice Chairman and CEO. "As part of our ongoing effort to actively manage our portfolio, we concluded that this business no longer complements our core strategy."

"This divestiture enables SABIC's Specialties SBU to sharpen our focus on businesses aimed at generating greater value for customers through unique or diversified offerings," Al-Benyan continued. "The Specialties SBU will direct resources more intently on providing specialty resins and chemicals and/or their formulations or forms. Additionally, we will study potential growth opportunities."

We are collecting readers' comment for improving our website. If you are willing to help, please CLICK HERE to complete a survey. Your comments matter.
Write a mail to the editor
Copyright © Adsale Publishing Limited. Any party needs to reprint any part of the content should get the written approval from Adsale Publishing Ltd and quote the source "China Plastic & Rubber Journal (CPRJ)", Adsale Plastics Website - www.AdsaleCPRJ.com. We reserve the right to take legal action against any party who reprints any part of this article without acknowledgement. For enquiry, please contact Editorial Department.  [Want to use this report?]
Name
Company Name
Job title
Email (will not be published)
Comment
Recent Comment
Legal Statement | Privacy Policy
Remarks: Publication of the comments is at editor's discretion.
Register a New Member
信易电热机械股份有限公司
裕克施乐塑料制品(太仓)有限公司
HOSOKAWA ALPINE AG ABT. FVF
阿科玛(中国)投资有限公司上海分公司
莱斯特瑞兹机械(太仓)有限公司
泰瑞机器股份有限公司
广东伊之密精密机械股份有限公司
日钢注塑机維修(深圳)有限公司
东莞市思为客自动化科技股份有限公司
富强鑫精密工业股份有限公司
COPERION GMBH
上海ABB工程有限公司
东华机械有限公司
DAVIS-STANDARD, LLC
海天塑机集团有限公司

Supplier Highlights
WITTE PUMPS & TECHNOLOGY GMBH