Clariant Studies Saudi Alkoxylates JV
Clariant and SABIC affiliate Saudi Kayan have signed a Memorandum of Understanding (MoU) to study the formation of an alkoxylates manufacturing joint venture.
The companies will evaluate establishing a plant to produce alkoxylates, a derivative of ethylene oxide, at Saudi Kayan’s complex in Jubail Industrial City, Saudi Arabia.
Clariant, which uses alkoxylates in various applications in the home care, personal care and industrial sectors, will provide its production technology, while Saudi Kayan will supply the raw materials.
The MoU is another cooperation resulting from SABIC’s purchase of a 24.99% stake in the Swiss specialty chemicals company last September.
In separate news, Clariant has reduced its stake in the Stahl group to 14.8% from 19.7%, although said it will remain a financial investor in the company.
Netherlands-based Stahl is a producer of chemicals, dyes and coatings for leather and other applications. Clariant sold its leather services business to Stahl in 2014 for around 85 million Swiss francs and a 24% stake in the Dutch group.
