… they have agreed terms under which SABIC will acquire 100 per cent of the shares of Huntsman Petrochemicals (UK) Ltd (Huntman’s European Base Chemicals and Polymers business) for a purchase price of US$ 700 million in cash. After the completion of the deal, SABIC intends to complete the construction of the 400kpta capacity polyethylene (LDPE) plant in Wilton, Teesside, at an investment cost of US$150 million. SABIC is the largest public company in the Middle East, ranked by market capitalization (more than US$ 100 billion), and one of the world’s 10 largest petrochemicals manufacturers. The company is among the world’s market leaders in the production of polyethylene, polypropylene, glycols, methanol, MTBE and fertilizers as well as the fourth largest polymer producer.