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Clariant and Tasnee establish masterbatch JV in Saudi Arabia

By: PLASTICS & RUBBER WEEKLY

August 9, 2013

Specialty chemicals producer Clariant International Ltd. and Tasnee & Sahara Olefins Co., one of the largest industrial conglomerates in Saudi Arabia, today announced they have signed an agreement to establish a masterbatch joint venture in Saudi Arabia.

Tasnee will acquire a 40 percent stake in Clariant's masterbatches operations in the country, already operating under the name Clariant Masterbatches Saudi Arabia.

Clariant CEO Hariolf Kottmann said: "Clariant will contribute a high level of specialist know-how to the new company, whereas Tasnee has in-depth knowledge of the relevant regional markets, which will deliver major benefits to our clients."

Saleh Alnazha, CEO of Tasnee, said: "By this joint venture, Tasnee will enter into the important business of masterbatches which will create further opportunities for serving the downstream plastic industry in the Middle East region."