Clariant partners with Tasnee for masterbatch JV in Saudi Arabia

Specialty chemicals producer Clariant International Ltd. is partnering with Tasnee & Sahara Olefins Co., one of the largest industrial conglomerates in Saudi Arabia, to establish a masterbatch joint venture in Saudi Arabia.

According to a joint statement, Tasnee will buy a 40 per cent stake in Clariant’s masterbatches operations in the country, which operates under the name Clariant Masterbatches Saudi Arabia. The terms of the purchase have not been disclosed. In addition to the existing operations, the companies also plan to build an additional masterbatches plant in Saudi Arabia.

“Our strategic partnership with Tasnee and the formation of the joint venture represent a first essential step for Clariant in strengthening its presence in one of the most important growth regions of the world,” said Clariant CEO Hariolf Kottmann, “Clariant will contribute a high level of specialist know-how to the new company, whereas Tasnee has in-depth knowledge of the relevant regional markets, which will deliver major benefits to our clients. The link with Tasnee will also create additional value by facilitating access to feedstock. This partnership therefore represents another step in the implementation of our global growth strategy.”