SABIC, the leading Saudi global diversified chemicals company, has completed the purchase of Clariant's 50% stake in Scientific Design, giving SABIC full ownership of the leading high-performance industrial technology licensing and catalyst development company.
This step will contribute to consolidating SABIC's growth in the specialized products market, and will help SABIC meet the increasing demand for catalysts, raise the level of supply reliability, and enhance innovation in this sector.
SABIC reorganized its specialty products business last year by making it a strategic business unit with an independent entity in an effort to unleash internal and external expansion opportunities that are not dependent on the dynamics of feedstock.