Sep 20 2011 |
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SABIC joins automotive innovation INPRO
JEDDAH - Saudi Basic Industries Corporation ( SABIC ) has entered into an agreement to purchase an equity stake in INPRO, the joint venture dedicated to collaborative innovation in automotive production.SABIC will join Daimler, Siemens, ThyssenKrupp and Volkswagen as equity owners in the group.
The Federal State of Berlin has also held shares in INPRO since its founding in 1983. SABIC comes to the JV with 45 years of experience as a leading industry pioneer in automotive engineering plastics material technologies and application development, primarily through the dedicated automotive division of its innovative plastics strategic business unit, and will fully participate in INPRO's joint innovation projects.
INPRO develops innovative technologies for lightweight manufacturing and zero-defect vehicle production. Its R&D focus includes the development of new production technologies for future electric and hybrid vehicles. "With one of the world's broadest thermoplastics portfolios, SABIC is a welcome addition to our business model of collaborative innovation," said INPRO chief executive Gerd Eer.
"Innovative materials are critical to the evolution and success of the automotive production process and are vital in lightweight component construction, increased fuel efficiency, high performance and lower production costs."
"Through INPRO, SABIC can participate and add value in the early stages of innovation with world-class companies, who continue to develop and create new vehicles and processes that meet the interests of automakers and consumers around the world," said Gregory A. Adams, vice president, Innovative Plastics' automotive division.
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