The global leader in the chemical industry Sabic has signed an agreement to purchase Clariant’s 50% stake in specialties 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 catalysts producer.
The move is aimed at securing a greater share of the specialties market. Last year, Sabic repositioned its specialties division as a stand-alone strategic business unit to unlock organic and inorganic growth opportunities that are independent of feedstock dynamics.
“Catalysts are the foundation of our business. The acquisition of Scientific Design will strengthen our non-cyclical technology-oriented specialty business and move us closer to our long-term goal of becoming a global Specialties leader. This is a growing global market and the Middle East region alone sources nearly $1.5 billion worth of catalysts per year. We recognize the opportunity to help meet increasing catalyst demands, increase security of supply and the level of innovation with the sector”, Sabic Vice Chairman and CEO, Yousef Al-Benyan, said.