$450 Million! Mutares Acquires SABIC's Engineering Thermoplastics Business in the Americas and Europe

On January 8, 2026, Mutares signed a landmark agreement to acquire Saudi Basic Industries Corporation's (SABIC) regional Engineering Thermoplastics (ETP) business in the Americas and Europe for an enterprise value of $450 million. The transaction is expected to close in the second half of 2026, subject to approval by relevant regulatory authorities.

This planned acquisition represents the largest transaction in Mutares' history and marks the establishment of the company's new strategic segment, "Chemicals & Materials." Upon completion, the newly formed segment will center on the ETP business as its core platform, also encompassing the Venator Ultramarine Blue Pigments business, thereby strengthening Mutares' market position in specialty chemicals and advanced materials.

SABIC's ETP business includes approximately 1.085 million tons of annual resin production capacity and about 780,000 tons of annual compounding capacity. It operates a broad international platform with around 2,900 full-time employees globally and eight production sites across the Americas and Europe. Its product portfolio includes Polycarbonate (PC), Polybutylene Terephthalate (PBT), Acrylonitrile Butadiene Styrene (ABS) resins and compounding lines, and owns globally recognized brands such as LEXAN™, CYCOLOY™, VALOX™, and CYCLOLAC™. The business generates annual revenues of approximately $2.5 billion.

SABIC's ETP business is the world's second-largest PC producer, a leading ABS producer in the US, and the only PBT producer in the US — highlighting its strong competitive position in key engineering thermoplastics. Furthermore, it serves a diverse customer base across automotive (39%), construction (20%), consumer goods (17%), electrical & electronics (10%), and healthcare (3%) industries, as well as water containers and other industrial applications. Geographically, the business is well-balanced, with 66% of revenue from the Americas and 34% from Europe.

This acquisition enables Mutares to leverage the ETP business's upstream integrated platform, extensive technological capabilities, and strong innovation pipeline to accelerate growth, operational excellence, and value creation within the new Chemicals & Materials segment.

SABIC CEO Abdulrahman Al-Fageeh stated: "This transaction is a continuation of our portfolio optimization program initiated in 2022, aimed at achieving long-term sustainable growth and maximizing value creation. Following a competitive bidding process, Mutares emerged as the winner to carry forward the strong legacy we have built in the Americas and Europe ETP business. We are confident this transaction will secure a bright future for the business."

Johannes Laumann, Chief Investment Officer of Mutares, further commented: "The acquisition of the ETP business from SABIC is a significant milestone in Mutares' corporate development. It is not only the largest transaction in our history but also officially launches our new Chemicals & Materials segment. The ETP business's footprint in the Americas and Europe, its premium brands, and deep technical expertise form a solid foundation for building a leading platform in advanced materials and specialty chemicals."