Major global chemical giants including Ineos, SABIC and Mitsubishi Chemical have rolled out a string of strategic divestments recently, amid a broad market downturn triggered by falling crude oil prices.
Ineos Exits JV with Sinopec
On August 3, global chemical major Ineos announced its full withdrawal from the petrochemical joint venture with China Petroleum & Chemical Corporation (Sinopec) based in Tianjin. Ineos and Sinopec inked a cooperation deal in early August 2023 to establish Sinopec Ineos (Tianjin) Petrochemical Co., Ltd. on a 50/50 equity split, jointly running the 1.2 million tons per annum ethylene complex at Nangang, Tianjin. The partnership collapsed in less than three years.
SABIC Completes Sale of ETP Business
Also on August 3, Saudi Basic Industries Corporation (SABIC) closed the sale of its Engineering Thermoplastics (ETP) assets across the Americas and Europe to Mutares SE & Co., with an enterprise value of USD 450 million. The divestment was first unveiled in January this year. SABIC’s ETP operations in the Americas and Europe manufacture polycarbonate (PC), polybutylene terephthalate (PBT), acrylonitrile butadiene styrene (ABS) resins and compounds. The portfolio covers eight manufacturing facilities located in Mount Vernon, Ottawa, St. Louis Bay and Burkville (U.S.), Tampico (Mexico), Campinas (Brazil), Cartagena (Spain) and Bergen op Zoom (the Netherlands), with a combined annual capacity of 1.87 million tons.
Mitsubishi Chemical Fully Pulls Out of Taiwan MMA Market
Per a March 2026 filing from Mitsubishi Chemical, the firm completed the transfer of its entire 60% stake in Kaohsiung Monomer Co., Ltd. (KMC) to China Petrochemical Development Corporation (CPDC) by August 3, 2026. Upon deal completion, Mitsubishi Chemical terminated its co-ownership of KMC, while CPDC took full control of the firm.
Post time: Aug-11-2026