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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Sipchem Acquires Trading Firm Aectra

7:53 AM MST | December 16, 2011 | —Natasha Alperowicz in Dubai

Al Ohali: Gaining access to Europe. Saudi International Petrochemical Co. (Sipchem; Al Khobar) announced at the recent GPCA Annual Forum in Dubai that the company’s Sipchem Marketing and Services Co. (SMSC) subsidiary had acquired petrochemical trading firm Aectra SA (Lutry, Switzerland). The deal is Sipchem’s first acquisition. Financial terms were not disclosed. The acquisition was concluded in Dubai by Ahmad Al Ohali, chairman of Sipchem and of SMSC and by René Fresco, CEO of Aectra. “Aectra gives Sipchem immediate access to...

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