MIDDLEBURY, Conn - Tuesday, March 18th 2014 [ME NewsWire]
(BUSINESS WIRE) Addivant today announced the completion of the first phase of capacity expansions at Gulf Stabilizers Industries (GSI), the company’s joint venture in Al Jubaïl, Saudi Arabia. Once completed, the production capacity of hindered phenolic antioxidants, ANOX® 20 and ANOX® PP18 and, phosphite antioxidant ALKANOX® 240 will double to 10,500 metric tons.
GSI's Board of Directors also announced that plans are underway to expand production capacity of the ANOX® NDB® product line to 24,000 metric tons per annum to meet growing customer demand for a range of new, higher performing products.
GSI is a joint venture between Addivant and Zamil ChemPlast, one of Saudi Arabia's leading industrial manufacturing companies.
“We have worked closely with our customers in the Middle East since 2001, when we were the first additive company to invest in the region. Today, GSI remains the only local manufacturer of antioxidants and we are committed to support our customers with innovation, security of supply, and overall value” said Peter Smith, Addivant CEO and GSI Chairman of the Board.
“The rapid expansion of the Middle East polymer industry over the past two decades has been impressive and it will continue in the years ahead with the downstream markets playing an increasingly important role. Smith added, “With our breadth of specialty additives and formulation capabilities, we will continue to support our customers in the growth of applications in the automotive, packaging, agriculture, building and construction, and medical markets”.
”ALKANOX® 240, ANOX® 20 and ANOX® PP18 represent key building blocks of our ANOX® NDB® blended products, which are today’s preferred additive solution for customers in the region”, stated Adel Alghassab, Zamil ChemPlast President and GSI Board Member. Alghassab added, “By investing in additional capacity and new technology, we are confirming our long term commitment to growth in this sector and support for our local customers in terms of supply and technical innovation”.
ANOX® NDB® enables multiple polymer additives to be incorporated in non-dusting physical forms. These forms are proven to increase productivity, reduce production costs, advance final product quality, and improve workplace health and safety. Using ANOX® NDB® also eliminates the administrative and logistics costs of purchasing individual raw materials.
About Addivant
Addivant is an innovator in the field of polymer additives, developing customized solutions that provide customers enhanced application performance, safe handling, and reduction in cost of use. The company is recognized industry-wide for its extensive portfolio of specialty additives including antioxidants, light stabilizers, rubber additives, polymer modifiers, metal deactivators, polymerization inhibitors, and intermediates. Addivant is an international company, with 11 plants on five continents, as well as research, manufacturing and sales facilities around the globe. Addivant maintains its global headquarters in Connecticut, USA, with regional headquarters in: Al Jubaïl, Saudi Arabia; Basel, Switzerland, and Shanghai, China. Addivant is an independent portfolio company of SK Capital. Visit www.addivant.com for more information.
About Zamil ChemPlast
Zamil ChemPlast is one of the largest industrial companies in Saudi Arabia, currently engaged in the manufacture of specialty chemicals, plastic processing, industrial rubber products, and a variety of other products; with manufacturing facilities in Al Jubaïl, Dammam, Jeddah, Rabigh, and Egypt. Zamil ChemPlast has a balanced portfolio of chemical and plastics and offers a diversified product range established through successful joint ventures. Zamil ChemPlast is 100% owned by Zamil Group with its headquarters in Al Khobar, KSA. Visit www.zamilchemplast.com for more information.
ANOX®, ALKANOX®, LOWILITE®, LOWINOX®, NAUGARD®, NDB®, OCTAMINE®, POLYBOND®, ROYALTUF®, ULTRANOX® and WESTON® are brand names of AddivantTM.
ENDS
Contacts
Addivant
Sergio Palumbo
sergio.palumbo@addivant.com
+41 79 607 8112
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