Rohm & Haas in joint Saudi acrylics venture
Rohm and Haas, Philadelphia, will invest $50 million in a joint venture with Tasnee Sahara Olefins Co. of Saudi Arabia to build and run an acrylic plant in Jubail, Saudi Arabia, as that oil-producing nation diversifies its petroleum-based manufacturing industries.
Rohm and Haas, Philadelphia, will invest $50 million in a joint venture with Tasnee Sahara Olefins Co. of Saudi Arabia to build and run an acrylic plant in Jubail, Saudi Arabia, as that oil-producing nation diversifies its petroleum-based manufacturing industries.
It's the first plant of its kind in the Middle East, said Carol Eicher, Rohm and Haas vice president and director of the primary materials business.
"Our group will oversee the engineering, we are licensing the technology, and Rohm and Haas people will have a permanent role as part of the steering committee," said company spokeswoman Laura Hadden.
Rohm & Haas will have a 25 percent interest in the venture, Saudi Acrylic Monomer Co., which is scheduled to produce 250,000 metric tons a year for use in regionally produced products when it opens in 2011.
Acrylic is a lightweight plastic that Rohm & Haas sells for use in paints, laundry detergents, food packaging, insulation and automotive adhesives, among other products.
Most of Rohm & Haas' 50 worldwide plants are company-owned, but there are also joint ventures in China and Germany, Hadden said.
Tasnee Sahara is a private Saudi company that has a separate joint venture, Saudi Ethylene and Polyethylene Company, which is 25 percent owned by Netherlands-based LyondellBasell Industries.