(RTTNews) – Mutares SE & Co. KGaA (MUX.F, MUX.DE) on Thursday said it has signed an agreement to acquire Saudi Basic Industries Corp. (2010.SR) regional Engineering Thermoplastics business in the Americas and Europe for an enterprise value of $450 million.
The transaction is expected to close in the second half of 2026.
The deal represents the largest acquisition in its history and marks the launch of a new strategic segment, Chemicals & Materials.
Upon completion, the acquired Engineering Thermoplastics business will serve as the core platform of the new segment alongside Venator Ultramarine Blue Pigments.
The Engineering Thermoplastics business operates eight production facilities across the Americas and Europe, employs approximately 2,900 people, and has resin production capacity of about 1,085 kilotonnes and compounding capacity of around 780 kilotonnes.
The unit generates approximately $2.5 billion in annual revenue and offers products including polycarbonate, polybutylene terephthalate and ABS resins under brands such as LEXAN, CYCOLOY, VALOX and CYCLOLAC.
On Wednesday, Mutares SE is 4.42% higher at EUR 31.90 on the XETRA.
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