Blackfriars 收購Sabic公司Polymershapes

Saudi Basic Industries Corp (Sabic) has agreed to sell its Polymershapes unit to US investment firm Blackfriars Corp, Sabic said without giving a value for the deal. The deal is expected to be completed during the fourth quarter of this year, Sabic said, adding that the unit was a non-core business and its divestment would not affect SABIC’s distribution of other products or have a substantial impact on its finances.The unit is the world’s largest distributor of plastic sheet, rod, tube and film, serving over 35,000 customers with a distribution network of more than 75 branches in the US, Canada, Mexico and Chile, according to a 2013 statement by Sabic. Although Polymershapes is profitable, owning it is no longer in line with Sabic’s plan to strengthen its business by 2025, Tuesday’s statement quoted acting chief executive Yousef Al-Benyan as saying.