Clariant and Tasnee establish masterbatches joint venture in Saudi Arabia
13-Aug-2013
- Saudi Arabia
Clariant and Tasnee announced the signing of an agreement to establish a masterbatches joint venture in Saudi Arabia.
Within the framework of the agreement, through its 100% subsidiary Rowad National Plastic Company Ltd., Tasnee will acquire a 40% stake in Clariant’s masterbatches operations in the country, already operating under the name Clariant Masterbatches (Saudi Arabia) Ltd. The joint venture will be operational following completion of customary merger control clearance procedures and will keep its main focus on the Arabic peninsulas core market.
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