06.12.2013 • NewsDede Willamsbutanediolcarbon monoxide

Saudi Chemical Producers Sign MoU on Merger

Saudi International Petrochemical Company (Sipchem) and Sahara Petrochemical have signed a memorandum of understanding on a potential asset merger, bringing the deal, which would take the form of a share swap, one step closer to fruition.

Sipchem said a closing could come in the first half of 2014. According to reports, the merged company would be worth $5 million, with Sipchem taking on the role of corporate parent to Sahara.

In early November, the chemical producers which have a common shareholder, Zami Holding Company Group, had said they were still "progressing detailed studies and negotiations in relation to the potential merger," following a five-month economic and technical feasibility study. A non-binding agreement expires at the end of January.

Sahara focuses on olefins ethylene and propylene as well as polyethylene and polypropylene. Sipchem produces methanol, butanediol, tetrahydrofuran, carbon monoxide and a number of acetyls products such as acetic acid, acetic anhydride and vinyl acetae monomer (VAM).

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.

CHEManager Spotlight

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics
Creating Interfaces

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics

CHEManager Spotlight is an exclusive event tailored for practitioners and decision-makers in the chemical industry. This part of our event series delves into the latest trends and innovations in logistics to streamline your operations and drive efficiency.