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The Saudi Basic Industries Corporation (SABIC; Riyadh, Saudi Arabia) completed the divestment of its Engineering Thermoplastics (ETP) business in the Americas and Europe to Mutares SE & Co. for an enterprise value of $450 million.
Commenting on the announcement, Dr. Faisal M. Alfaqeer, SABIC’s CEO and Executive Board Member, said: “I am pleased to share that the sale of SABIC’s Engineering Thermoplastics business in the Americas and Europe has been completed. Portfolio optimization constitutes a key priority to SABIC to sharpen its strategic focus and to achieve prolonged development and sustainable profitability whilst maximizing shareholder returns.”
The completion of the divestment of SABIC’s ETP business in the Americas and Europe marks a significant milestone in the Company’s portfolio optimization strategy. The transaction supports SABIC’s continued focus on exiting structurally underperforming assets, reducing cash losses, improving Return on Capital Employed (ROCE), and maximizing prolonged shareholder value.
The divested business reported a loss from operations of approximately $498 million (SAR 1.9 billion) to the year ended 31 December 2025, and approximately $173 million (SAR 648 million) to the six-month period ended 30 June 2026.
On a pro forma basis, the carve-out of the ETP business has improved SABIC’s EBITDA margin by approximately 130–140 basis points, reflecting the positive impact of the transaction on the Company’s overall profitability and portfolio condition.
SABIC continues to be committed to serving its customers across the globe relying on its strong methodology and innovation capabilities.
Today’s statement follows an earlier announcement made by SABIC on January 8, 2026, in which the company highlighted its plan to divest its ETP business in the Americas and Europe. The completion of this transaction had been subject to customary closing conditions and regulatory approvals.
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