13 Nov 2007
SABIC Innovative Plastics Exits Schwarzheide JV to Develop Newer High-Performance PBT Resins for Customers
BERGEN OP ZOOM, THE NETHERLANDS – Nov. 13, 2007 – SABIC Innovative Plastics today announced it has signed an agreement, subject to regulatory approvals, to divest itself of its share in a 12-year joint venture with BASF Aktiengesellschaft, which produces polybutylene terephthalate (PBT) resin in Schwarzheide, Germany. As part of this divestiture, SABIC Innovative Plastics will ensure continuity of supply for European customers through a contract to purchase PBT resin from BASF for a defined period of time. The transfer is expected by December 31st, 2007.
This re-alignment of resources allows SABIC Innovative Plastics to focus on different PBT technologies including resin based on terephthalic acid (TPA) feedstocks and iQ PBT resin, which uses an environmentally responsible process that reduces CO2 emissions and energy usage.
Heiner Markhoff, president of SABIC Innovative Plastics, Europe, stated, “This was an important strategic decision for our company, which will enable us to better support our customers here in Europe and across the globe with new and innovative PBT materials. As we accelerate the development of these products, we also will ensure an uninterrupted source of supply.”
SABIC Innovative Plastics offers several new advanced PBT-based materials with specialized properties. These include:
Richard Crosby, general manager of the PBT business for SABIC Innovative Plastics, said, “This development underscores how our company is taking the important steps needed to serve our customers in Europe and around the world in the best way we can. This means providing them with the most advanced PBT resins available and the technical support they need to enhance their competitive advantage.”
The joint venture with BASF, which was formed in 1995 and began production in 1997, was designed to share the capacity of a 60,000-ton manufacturing facility, later expanded to 100,000 tons/yr. The facility produces PBT using DMT feedstocks. SABIC Innovative Plastics also produces PBT resins in Mt. Vernon, Indiana.
For additional information on SABIC Innovative Plastics please visit the company’s website at www.sabic-ip.com.
Reader enquiries
| Innovative Plastics | Polymers | |
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| Web: www.sabic.com |
Netherlands
Notes for editors
About SABIC Innovative Plastics
SABIC Innovative Plastics is a global supplier of plastic resins widely used in automotive, healthcare, consumer electronics, transportation, performance packaging, building and construction, telecommunications and optical media applications. The company manufactures and compounds polycarbonate, ABS, ASA, PPE, PC/ABS, PBT and PEI resins, as well as the LNP* line of high-performance specialty compounds, under such well known brand names as Lexan, Cycolac*, Geloy*, Noryl, Cycoloy*, Valox* and Ultem.
The Specialty Film and Sheet division of SABIC Innovative Plastics manufactures high-performance Lexan sheet and film products used in thousands of demanding applications worldwide. The dedicated automotive organization is an experienced, worldwide supplier, offering leading plastics solutions for five key automotive segments: body panels and glazing; under the hood applications; component; structures and interiors; and lighting.
SABIC Innovative Plastics is part of Saudi Basic Industries Corporation (SABIC), one of the 10 largest petrochemicals manufacturers in the world.
* Trademark of SABIC Innovative Plastics IP BV.
Media Note: The proper name of the company is SABIC Innovative Plastics, and excludes any abbreviations or variations when referring to the company. As an acronym, SABIC should be all caps whenever it appears in print.
Editorial enquiries
Helen Vandebovenkamp
SABIC
Helen.vandebovenkamp@sabic-ip.com
Folke Markestein
Marketing Solutions NV