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SABIC signed a technology agreement with Montefibre

June 16/2011

(SABIC) -- Saudi Basic Industries Corporation (SABIC) signed a technology agreement with Montefibre S.p.A (Montefibre) 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. This plant demonstrates how SABIC continues to add innovative new specialty products to its offering. It will enable SABIC to serve the growing demand for carbon fiber and composites in such fast-growing markets as alternative energy, transportation and infrastructure.

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 Montefibres existing acrylic fiber production siteand thus allowing SABIC to accelerate product development and material qualification activities with customers and end-users.

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.

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