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Saudi’s SABIC Sells Polymershapes Unit to U.S. Firm

by | Sep 7, 2016 | Business, Daily News

Saudi Basic Industries Corp (SABIC) 2010.SE has agreed to sell its Polymershapes unit to U.S. investment firm Blackfriars Corp, SABIC said without giving a value for the deal.

The deal is expected to be completed during the fourth quarter of this year, SABIC said late on Tuesday, adding that the unit was a non-core business and its divestment would not affect SABIC’s distribution of other products or have a substantial impact on its finances.

 

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