NEWS SABIC secures stake in Clariant
Saudi Arabian petrochemi- cals giant SABIC has acquired a 24.99% stake in Clariant, making it the largest shareholder in the Swiss company. SABIC acquired its stake
from investor groups White Tale and 40 North. White Tale was the main opponent to Clariant’s proposed merger with Huntsman, ultimately forcing termina- tion of the plan in Novem- ber 2017. It had increased its stake to more than 20% and, with other shareholders also opposed, Huntsman and Clariant ultimately decided that they were unlikely to achieve the required two-thirds majority for approval.
new masterbatch production facility in the city of Yanbu, Saudi Arabia. Clariant Masterbatches Saudi Arabia is a joint venture between Clariant and Rowad, a major plastic products manufac- turer and part of Saudi Arabia’s Tasnee. The 38,000m2
site, in
Clariant and White Tale subsequently met “to identify possible ways to work together” but without reaching agreement. SABIC is already a
partner with Clariant in the catalysts joint venture,
Scientific Design. The two companies said they are now speaking “in order to discuss the new situation and explore possible ways to create value”. n In a separate move, Clariant officially opened its
2017 revenues up at PolyOne
PolyOne announced a 10% increase in full year revenue to $3.2bn for 2017. Adjust- ed earnings per share increased by 7%, which the company said was the eighth consecutive year of EPS growth.
“Over the last three years, we have increased our sales, marketing and R&D resourc- es by nearly 20%. These
investments have improved collaboration and service levels … leading to acceler- ated and sustained growth,” said Chairman, President and CEO Robert Patterson. The growth was 7%
organic and 3% from acquisitions. During the year, PolyOne acquired IQAP Masterbatch, a Spanish maker of speciality
colorants and additives, which is expected to add some $45m in revenue in 2018.
Earlier in 2017, it had bought SilCoTec, Rutland and Mesa, three US color- ants makers. As a result, the Colour, Additives & Inks business recorded the strongest growth last year. �
www.polyone.com
Yanbu Industrial Zone 2, will focus on production of white masterbatches. Clariant said that it will enjoy easy access to key raw mate- rials and to downstream plastics industries serving the Middle East region. Clariant Masterbatches already has a Saudi Arabian production site in Riyadh. �
www.sabic.com �
www.clariant.com
PolyOne Chairman, President and CEO Robert Patterson
Morssinkhof to build new recycling plant
Morssinkhof Rymoplast Group has announced plans to build a plastics recycling plant at the Haskerveen Business Park in Heerenveen, Nether- lands. The facility is expected to begin operations in 2019. The new facility will be located next to a plastic packaging waste sorting plant being built by Omrin, HVC and
www.compoundingworld.com
Midwaste. It will process PP and HDPE waste from that plant, as well as other post-consumer waste from the Nether- lands and other countries, into secondary raw material for high-end applications. “The new plastics recycling facility is
an excellent example of supply chain cooperation and a joint effort to truly
realise a circular economy,” said Morssinkhof Rymoplast owner Eric Morssinkhof. The company, which has been active for more than 50 years, already has 250,000 tonnes/year of processing capacity, although the capacity of the new facility was not disclosed. �
www.morssinkhofplastics.nl/
February 2018 | COMPOUNDING WORLD 5
PHOTO: SABIC
PHOTO: POLYONE
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