Chemicals company Sabic says that it plans to establish parts of its specialties business as a stand-alone business. As part of this plan, the company has signed a memorandum of understanding (MOU) with Clariant AG to enable the latter to create a new specialty chemicals business. Sabiic says that its Ultem and Noryl resins and range of LNP compounds and copolymers would be merged with Clariant’s additives and masterbatch offerings, as part of the Clariant group.

‘Clariant and Sabic's existing Specialties business are complementary, and the investment in Clariant, together with the intended combination of portions of our respective specialty businesses, is well aligned with Sabic's strategy to open new growth opportunities in specialty chemicals,’ said Yousef Al-Benyan, vice chairman and CEO of Sabic.

This story is reprinted from material from Sabic, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.