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06-23-2011

Sabic and Montefibre Plan Carbon Fiber Project

Saudi Basic Industries Corporation (Sabic) announced today that it has signed a technology agreement with Montefibre S.p.A., Milan, Italy, granting Sabic and its affiliates an extensive international licence on carbon fiber technology developed by Montefibre. Sabic will first use the technology for a new carbon fiber plant to be built in Saudi Arabia.

Once complete, the carbon fiber project is expected to establish a domestic supply of more than 3,000 metric tons of industrial grade carbon fiber to serve emerging local markets in the Middle East as well as international markets.

Sabic and Montefibre also signed a Memorandum of Understanding for the companies to study the feasibility of a new carbon fiber production plant in Spain to be integrated into Montefibre’s existing acrylic fiber production site—and thus allowing Sabic to accelerate product development and material qualification activities with customers and end-users.

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