Gulf Oil and Gas accountACCOUNT

SABIC Acquires License to Manufacture TDI & MDI

Source: www.gulfoilandgas.com 2/28/2012, Location: Middle East

The Saudi Basic Industries Corporation (SABIC) has signed a TDI and MDI technology license agreement with Mitsui Chemicals, Inc., in keeping with the company’s strategic plan to be a global leader in polyurethane and serve its customers with value-added services, solutions and products. Under the agreement, Mitsui will provide manufacturing technology for producing TDI and MDI, which are both raw materials for producing polyurethane. The agreement also provides for joint technology development in TDI/MDI.

The agreement was signed by Mohamed Al-Mady, SABIC Vice Chairman and CEO, and Toshikazu Tanaka, Mitsui Chemicals President and CEO, at SABIC’s headquarters in Riyadh on February 26.

Expressing strong optimism over the agreement, Al-Mady said that it would spearhead a strategic collaboration between the two companies to explore future possibilities to collaborate in the polyurethane (PU) business. “The agreement will spur our strategic business plan to penetrate the global polyurethane market as well as power the ambition and competitive advantage of our customers for the long term,” he said. “It will also enable a fast development of PU application industries in Saudi Arabia, especially with regards to thermal insulation which will contribute to employment creation as well as energy savings.”

Al-Mady pointed out that Mitsui Chemicals has a long experience as a manufacturer of TDI and MDI and has over the years developed pioneering manufacturing processes. “Through this technology license agreement, we will strengthen our product capabilities with high quality TDI and MDI and expand into the polyurethane business,” he said.

Tanaka commented, “For Mitsui Chemicals, this License Agreement will be the largest and most extensive one we have ever made. We will support this project full force on every front and are committed to its success. I hope that it will be just the first step in a future business partnership with SABIC, which may include establishment of a strategic supply base for competitive TDI/MDI.

Polyurethane is a resilient, flexible and durable manufactured material that can take the place of paint, cotton, rubber, metal or wood in thousands of applications across virtually all fields.

Polyurethane will serve a very rich variety of segments including building and construction, automotive and transportation, furniture and bedding, sports and footwear, food packaging, cold chain and refrigeration, and home appliances. The advantages of polyurethane include strength and flexibility, application versatility, variable rigidity/firmness, and high performance.

Petrochemicals News in Saudi Arabia >>

Azerbaijan >>  2/18/2019 - • According to preliminary estimates, the SOCAR Polymer complex at maximum capacity has the capability to increase the export revenue of the country's...
Russia >>  2/14/2019 - Gazprom Neft has entered into an agreement with the Novosibirsk Oblast on supplying modern, high-technology bitumens for the region’s highways network...

Qatar >>  2/13/2019 - Qatar Petroleum, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP), has concluded a 5-year sales agreement to su...
Iran >>  2/6/2019 - The governor of Khuzestan Province, southwestern Iran, inaugurated two petrochemical projects in Mahshahr Petrochemical Especial Economic Zone (PETZON...

China >>  1/29/2019 - BP, through its new joint venture partnership with Dongming Petrochemical, opened its first branded station in Shandong, China. The new store is the f...
Iran >>  1/29/2019 - The ethane produced by the onshore refineries of phases 22 to 24 of the South Pars gas field is now being fed to petrochemical plants as feedstock. Ac...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

More News

Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.