- Clariant and Saudi Kayan have agreed to consider the prospect of forming a joint venture with an objective to establish a manufacturing facility for alkoxylates.
- The new facility will combine Clariant’s alkoxylates production technology with raw materials of Saudi Kayan.
The Swiss specialty chemicals company Clariant has reportedly announced that it has inked a Memorandum of Understanding (MoU) with Saudi Kayan to establish a manufacturing plant for alkoxylates. As per trusted sources, the new facility would be constructed at Saudi Kayan’s Petrochemical Company complex in the Jubail Industrial City of Saudi Arabia.
According to a report published by Reuters, the new facility is likely to integrate alkoxylates production technology of Clariant with raw materials of Saudi Kayan. Moreover, the MoU between both the firms is a part of the further assessment of additional combined business opportunities between SABIC and Clariant, as previously communicated by both the companies.
For the uninitiated, Saudi Kayan is a leading joint stock Saudi Arabian firm operating in the field of polymers, chemicals, and specialty products. The company is also an associate of Saudi Basic Industries Corporation (SABIC). Sources with the knowledge of the matter claim that SABIC is also the largest strategic anchor shareholder of Saudi Kayan, holding a total of 24.99 percent stake in the company.
For the record, alkoxylates are a downstream outcome of ethylene oxide and are predominantly utilized across a range of specialty applications in Clariant’s industrial, personal care, and home care application domains.
Based in Muttenz near Basel/Switzerland, Clariant is one of the foremost specialty chemicals company in the world. The company operates in four business segments including Plastics & Coatings, Natural Resources, Catalysis, and Care Chemicals. The corporate strategy of the company is based on five major pillars: intensify growth, add value with sustainability, focus on innovation and R&D, increase profitability, and reposition portfolio.