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Saudi Arabia (698)


SAUDI ARABIA

Takween Advanced Industries to acquire Savola's plastics packaging business
The Savola Group (Jidda, Saudi Arabia) on Tuesday signed a nonbinding memorandum of understanding (MOU) and commenced exclusive discussions with Takween Advanced Industries (Al Khobar, Saudi Arabia) to sell Savola's wholly owned packaging subsidiary. The...

Saudi Arabian fertilizer industry set for growth and diversification
The Saudi fertilizer industry leads regional production and is set to usher in a period of strong growth and diversification, according to Abdulwahab Al Sadoun, secretary-general of the Gulf Petrochemicals & Chemicals Association (GPCA; Dubai)...

Sabic reports higher sales and profit, says US shale unlikely to make impact for some time
Sabic today reported second-quarter net profit increased 7%, to 6.46 billion Saudi riyals ($1.72 billion), with operating profit rising 1%, to SR10.07 billion. Sales were up 7% to SR48.15 billion. Mohamed Al Mady, CEO, addressing a news conference at Riyadh...

Several Saudi firms report second-quarter earnings
Several Saudi Arabian petrochemicals producers have reported their second quarter results. Sabic affiliate Saudi Kayan losses in the quarter have narrowed. The company reported net loss of 133.1 million Saudi riyal ($35.5 million) in the second quarter...

Chemanol closes para-formaldehyde plant following a fire
Methanol Chemicals Co. (Chemanol; Dammam, Saudi Arabia) has announced that a fire broke out at its para-formaldehyde plant at Al Jubail on Friday afternoon. The company’s firefighters, with the help of nearby companies and civil defense teams, have...

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