SABIC plans to sell functional forms business to Röhm

Logo of Saudi Basic Industries Corp. (SABIC)

Saudi Basic Industries Corp. (SABIC) reached an agreement with Röhm GmbH to sell its functional forms business, as part of its move to focus on petrochemicals, agri-nutrients and specialties.
 

SABIC’s functional forms business will develop and manufacture polycarbonate resin polymethylmethacrylate (PMMA) sheets and films, which target a wide range of industrial sectors, such as building and construction, consumer electronics, medicine to aerospace, the SPA reported.

SABIC’s functional forms business has about 700 employees, with operations in 19 countries.
 

The transaction is expected to close within the next few months, after consultation with respective works councils and antitrust authorities in Europe.