Saudi Basic Industries Corporation (SABIC) and ExxonMobil Corporation's 50/50 joint-venture partner, Al-Jubail Petrochemical Company (KEMYA), signed a long-term technology licensing agreement with Continental Carbon Company for its production technology related to the construction and operation of a new greenfield carbon black plant at KEMYA's petrochemical complex at Al-Jubail, Saudi Arabia.
KEMYA and Continental Carbon Company have also signed a long-term product off-take agreement in addition to the technology license. Under terms of the agreement, Continental Carbon will market part of the production of the new KEMYA carbon black plant to serve the local and international tire industry.
Continental Carbon Company is one of the world's prominent carbon black manufacturers and its production technology has been successfully demonstrated in operating plants all over the world. Continental Carbon also has relationships with customers globally, making it well-positioned to market the KEMYA carbon black. Continental Carbon continues to grow its carbon black business globally, including this venture with respected leaders in the chemical industry.
The final decision to implement the carbon black project requires the approval of KEMYA's Board of Directors.
-Ends-
Samir A. Al-Abdrabbuh
Vice President, Corporate Communications
© Press Release 2011
