09 April 2013 22:51 [Source: ICIS news]
HOUSTON (ICIS)--US-based polymer materials producer PolyOne said on Tuesday that its joint venture, Juffali PolyOne Masterbatch, has opened a specialty colourant facility in Jeddah, Saudi Arabia.
PolyOne announced in October 2011 that it was forming a joint venture with Saudi Arabian conglomerate EA Juffali & Brothers to invest in a plant that would produce specialty colour concentrates and have the potential for expansion into other product lines.
“The official opening of our new production facility in Jeddah solidifies our ability to bring enhanced value and improved collaboration for our current and future customers,” said PolyOne CEO Stephen Newlin. “This is yet another great example of our ‘invest to grow’ strategy, which has proven to add value for our customers, shareholders and associates.”
Juffali chairman Walid Juffali added: “My company has a respected history in the region, and we are happy to have taken this important next step in our long and successful cooperation with PolyOne. Launching this new facility is a tremendous accomplishment, and our customers in the region will benefit greatly from our efforts.”
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