SABIC to suspend ULTEM polymer production in Cartagena in 2020
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Saudi Basic Industries Corp. (SABIC) will suspend production of ULTEM™ polymers in Spain’s Cartagena plant this year, as part of its global operation optimization strategy, the company said in a bourse filing.
SABIC is committed to meeting the demand of existing and future ULTEM™ customers from other plants.
The decision has no direct impact on other operations at the Cartagena facility.
The non-cash financial impact was initially estimated at almost SAR 700 million, and is expected to show in Q1 2020.