German industrial group Mutares SE & Co. KGaA acquired Saudi Basic Industries Corporation (SABIC) engineering thermoplastics business in the Americas and Europe for $450 million. The transaction was part of a series of portfolio restructuring moves by SABIC and underscores Mutares strategy of acquiring businesses with significant operational improvement potential.
The engineering thermoplastics business produces high-performance plastic materials used in automotive, electronics, healthcare, and industrial applications. The acquisition adds to Mutares growing Chemicals & Materials segment, which the company has identified as a key growth platform.
The deal comes amid a broader wave of portfolio restructuring in the global chemical industry, with companies divesting non-core assets to focus on higher-margin specialty businesses and reduce exposure to cyclical commodity segments.
