02/28/2012

www.gupta-verlag.de/polyurethanes

Sabic acquires license to manufacture TDI and MDI from Mitsui

The agreement was signed by Mohamed Al-Mady, Sabic Vice Chairman and CEO, and Toshikazu Tanaka, Mitsui Chemicals President and CEO, at Sabic's headquarters in Riyadh, Saudi-Arabia, on 26 February 2012.[image_0] Expressing strong optimism over the agreement, Al-Mady said that it would spearhead a strategic collaboration between the two companies to explore future possibilities to collaborate in the polyurethane business. "The agreement will spur our strategic business plan to penetrate the global polyurethane market as well as power the ambition and competitive advantage of our customers for the long term,” he said. "It will also enable a fast development of PU application industries in Saudi Arabia, especially with regards to thermal insulation which will contribute to employment creation as well as energy savings.” Al-Mady pointed out that Mitsui Chemicals has a long experience as a manufacturer of TDI and MDI and has over the years developed pioneering manufacturing processes. "Through this technology license agreement, we will strengthen our product capabilities with high quality TDI and MDI and expand into the polyurethane business,” he said Tanaka commented, "For Mitsui Chemicals, this License Agreement will be the largest and most extensive one we have ever made. We will support this project full force on every front and are committed to its success. I hope that it will be just the first step in a future business partnership with Sabic, which may include establishment of a strategic supply base for competitive TDI/MDI.” Sabic ranks among the world's top petrochemical companies. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilisers. The company recorded a net profit of SR 29.21 billion (USD 7.79 billion) in 2011. Sales revenues for 2011 totalled SR 190 billion (USD 50.67 billion). Sabic's businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. The company has significant research resources with 17 dedicated Technology & Innovation facilities in Saudi Arabia, the USA, the Netherlands, Spain, Japan, India and South Korea. The company operates in more than 40 countries across the world with more than 33,000 employees worldwide.

www.gupta-verlag.de/polyurethanes