By OGJ editors
HOUSTON, Mar. 25 -- Saudi Basic Industries Corp. (SABIC) and Süd-Chemie AG announced Monday a joint agreement to acquire Scientific Design Co. Inc., Little Ferry, NJ, from Linde AG. SABIC and Süd-Chemie will manage Scientific Design through a 50-50 joint venture. The amount of the deal was undisclosed.
Under this change in ownership, Scientific Design—which produces catalysts and sells licenses for process technology—will remain an independent entity.
Süd-Chemie said that through this acquisition, the company will be adding market segments to its product portfolio, which will open up sales potential of more than $200 million.
