Mutares SE & Co KGaA has agreed to acquire the regional engineering thermoplastics (ETP) business in the Americas and Europe of SABIC for $450m. The transaction is expected to close in the second half of 2026, subject to customary approvals.
The planned acquisition represents the largest transaction in Mutares’ history and marks the establishment of a new strategic segment, Chemicals & Materials. Upon closing of the transaction, the new segment will comprise the ETP Business as its core platform and will also include Venator Ultramarine Blue Pigments.
With resin production capacity of approximately 1,085KT and compounding capacity of approximately 780KT, the ETP Business operates an international platform with around 2,900 full-time employees and eight producing facilities across the Americas and Europe. The product range includes Polycarbonates (PC), Polybutylene Terephthalate (PBT), and Acrylonitrile Butadiene Styrene (ABS) resin and compounding lines, supported by brands such as LEXAN™, CYCOLOY™, VALOX™, and CYCLOLAC™. The business is generating around $2.5bn in revenue.
The ETP Business is the world’s second-largest producer of PC, the leading ABS producer in the United States and the sole producer of PBT in the United States. Moreover, it serves a diversified customer base across Automotive (39%), Building & Construction (20%), Consumer Products (17%), Electrical & Electronics (10%), and Healthcare (3%), with additional exposure to water containers and other industrial applications. Geographically, 66% of revenue of the business comes from the Americas with 34% from Europe.
