Saudi Arabian chemical giant SABIC has acquired a majority stake in Fibre Reinforced Thermoplastics, a producer of engineered thermoplastic, fiber-reinforced unidirectional (“UD”) tape used in applications from building and construction to transportation and energy.

The takeover of the company based in Lelystad in the Netherlands expands the portfolio of the Saudi group’s Fibre Reinforced Thermoplastics (FRT) business supplying the European plastics industry.

“This acquisition will enable SABIC to develop new thermoplastic products, processes and design solutions to help our customers take full advantage of the unique light weighting opportunities offered by composites,” said Ernesto Occhiello, head of the EVP Specialties business.

SABIC’s UDMAX brand tapes are made using its proprietary HPFIT technology, which enables the spread and combination of thousands of glass or carbon fibers with a polymer matrix to create tapes with a high density of fibers, high quality fiber impregnation in the resin matrix, minimal void content and fewer broken fibers, the group said.

The tapes can be formed into composite materials that can be used to manufacture components that SABIC claims display superior performance to alternative materials, such as laminates and molded parts.