SABIC to suspend ULTEM polymer production in Cartagena in 2020

Saudi Basic Industries Corp. (SABIC) will suspend production of ULTEM™ polymers in Spain’s Cartagena plant this year, as part of its global operation optimization strategy, the company said in a bourse filing.

SABIC is committed to meeting the demand of existing and future ULTEM™ customers from other plants.

The decision has no direct impact on other operations at the Cartagena facility.

The non-cash financial impact was initially estimated at almost SAR 700 million, and is expected to show in Q1 2020.