The Saudi Basic Industries Corporation (SABIC; Riyadh, Saudi Arabia) completed the divestment of its Engineering Thermoplastics (ETP) business in the Americas and Europe to Mutares SE & Co. for an enterprise value of $450 million. Commenting on the announcement, Dr. Faisal M. Alfaqeer, SABIC’s CEO and Executive Board Member, said: “I am pleased to share that the sale of SABIC’s Engineering Thermoplastics business in the Americas and Europe has been completed. The completion of the divestment of SABIC’s ETP business in the Americas and Europe marks a significant milestone in the Company’s portfolio optimization strategy. SABIC continues to be committed to serving its customers across the globe relying on its strong technology and innovation capabilities. Today’s statement follows an earlier announcement made by SABIC on January 8, 2026, in which the company highlighted its plan to divest its ETP business in the Americas and Europe.