Sabic agrees technology deal with Mitsui

sabic-mitsuiThe Saudi Basic Industries Corporation (Sabic) has signed a TDI and MDI technology license agreement with Mitsui Chemicals.

Under the agreement, Mitsui will provide manufacturing technology for producing TDI (toluene diisocyanate) and MDI (methylene diphenyl diisocyanate), which are both raw materials for producing polyurethane. The agreement also provides for joint technology development in TDI/MDI, it said.

The agreement was signed by Mohamed Al-Mady, Sabic vice chairman and CEO, and Toshikazu Tanaka, Mitsui Chemicals president and CEO, at Sabic’s headquarters in Riyadh.

Al-Mady said the agreement will spearhead a strategic collaboration between the two companies to explore future possibilities to collaborate in the polyurethane (PU) business.

“The agreement will spur our strategic business plan to penetrate the global polyurethane market as well as power the ambition and competitive advantage of our customers for the long term,” he said. “It will also enable a fast development of PU application industries in Saudi Arabia, especially with regards to thermal insulation which will contribute to employment creation as well as energy savings.”

Tanaka commented: “For Mitsui Chemicals, this license agreement will be the largest and most extensive one we have ever made. We will support this project full force on every front and are committed to its success.

Polyurethane is a resilient, flexible and durable manufactured material that can take the place of paint, cotton, rubber, metal or wood in thousands of applications across virtually all fields.

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