SABIC completes $450m sale of engineering thermoplastics business to Mutares

Saudi chemicals company SABIC has completed the sale of its engineering thermoplastics business in Europe and the Americas to Germany-based Mutares for $450 million. The divestment is part of SABIC’s broader effort to reshape its portfolio and exit underperforming assets, after saying the business had been loss-making. The unit included production sites and operations across markets such as North and Latin America and Europe, and the deal is intended to help SABIC improve cash flow and focus on higher-growth areas.