NEWS
SABIC performance unit set up: plans to merge with parts of Clariant
Sabic has signed a memo- randum of understanding (MoU) with Clariant that will ultimately enable the formation of a new ‘High Performance Materials’ business. As part of the plan, Sabic will turn parts of its Specialties business – the Noryl and Ultem resins and LNP compounds and copolymers – into a stand- alone business in order to prepare it “to participate in further organic and inor- ganic growth”. The process is anticipat-
ed to take until the end of 2019. If the transaction with Clariant then proceeds, the separated businesses would be merged with Clariant’s additives and the “high value” parts of its master- batch division by the end of 2020. This includes its colour, high temperature resins and healthcare activities.
Sabic has recently
acquired a 24.99% stake in Clariant but has stressed
Momentive to have new owners
MPM Holdings, SJL Partners, KCC and Wonik QnC have entered into a definitive agreement to acquire silicones company Momentive of the US. The deal values Momentive at about $3.1bn. Jack Boss, CEO and
SABIC announced plans for a High Performance Materials business unit
that there are no plans for a full merger. Yousef Al-Benyan, CEO
of Sabic, said: “Uncoupling the Specialties business will allow the unit to achieve accelerated organic and inorganic growth as aligned with our broader corporate strategy of creating a sizeable, world class specialties company.” Clariant’s remaining plastics and coatings businesses will not be included in the new High Performance Materials unit. Clariant said in a statement
that these businesses, which include pigments, standard masterbatches and medical specialties, will be divested by 2020.
“Despite being well positioned and having significantly increased their profitability over the past years, the businesses to be divested do not match the Group’s criteria to differenti- ate through innovation in higher growth and higher profitability areas,” the company said. �
www.sabic.com �
www.clariant.com
president of Momentive, described this as “the result of a thoughtful and comprehensive review of the strategic growth and value creation opportuni- ties available to the company”. It will, he added, enable the silicones and quartz businesses to benefit from KCC and Wonik’s industry expertise, while “expanding our portfolio of products, broadening our geographic reach and strengthening our financial position”.
It will be financed by a
mixture of cash and new debt but is not subject to any financing contingen- cy and is expected to close in the first half of 2019. �
www.momentive.com
Boy delivers to RJG RJG’s new E60 servo- driven hydraulic machine 8 INJECTION WORLD | October 2018
RJG, the specialist in injection moulding training, has received a new E60 servo-driven hydraulic injection moulding machine with over 2,750 bar of injection pressure and 60 US tons of clamping force from Boy Machines at its training facility in Gibsonville, North Carolina, US. The machine also features Boy’s new Procan Alpha 4 machine controller, with graphic menu guides and high-speed screen set-ups. RJG added that the two-platen design allows students to see a machine that differs from the typical three-platen design, while occupying less floor space. �
www.dr-boy.de �
www.rjginc.com
www.injectionworld.com
PHOTO: SABIC
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