24 Hrs
Source:
الاقتصادية
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Sabic sells engineered plastics units
Saudi Arabia's SABIC has completed its exit from the engineered thermoplastic polymers business in the Americas and Europe through the sale to Mitors SE & Co. for $450 million. SABIC's goal with this move is to improve its portfolio, enhance financial performance, reduce losses, and increase returns on invested capital. The divested businesses recorded operating losses of approximately SAR 1.9 billion in 2025 and SAR 648 million over the last six months. The sale has contributed to an improvement in EBITDA margins by 130 to 140 basis points. This step is part of its strategy to reduce underperforming assets and create value for shareholders. The deal is still subject to regulatory closing conditions and approvals.
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