Sabic Engineering Thermoplastics Acquisition by Mutares

planned

German turnaround investor Mutares SE & Co. KGaA plans to acquire Sabic's engineering thermoplastics business, which includes manufacturing operations primarily in the United States. The acquisition is expected to close in the coming months and involves a significant restructuring effort to turn around the plastics operation. The Sabic unit produces engineering thermoplastics such as polycarbonate, ABS, and polybutylene terephthalate, with about 2,900 employees and roughly $2.5 billion in annual sales. Mutares plans to expand its U.S. presence, including opening another office in Houston, and sees huge growth opportunities in the U.S. energy, chemicals, and manufacturing industries.