25 June 2012 13:06 [Source: ICIS news]
LONDON (ICIS)--SABIC has signed a strategic agreement with Germany-based research group Fraunhofer-Gesellschaft to develop advanced technologies, the Saudi Arabian petrochemical major said over the weekend.
Financial details of the deal were not disclosed.
The agreement between the two companies, signed on 22 June in Sittard, the Netherlands, comprises various research areas. However, SABIC said it is especially interested in research cooperation in fields such as light weighting products including polymeric materials and composites, with applications in the automotive and aerospace industry.
SABIC also has a strong interest in solar energy technology, it added.
Ernesto Occhiello, SABIC executive vice president for technology and innovation said: “We have built, and are continuing to build, networks of research alliances with key global partners and innovation leaders to meet our strategic growth ambitions, address customer interest, and meet sustainability needs.”
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