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FINANCIAL NEWS
Saudi Sipchem buys Swiss Aectra SA
15 Dec 2011
(MENAFN) Saudi International Petrochemical’s Co. (Sipchem) CEO, Ahmad Al-Ohali, said that the firm acquired Aectra SA, a Swiss petrochemical trading and marketing company, through its affiliate Sipchem Marketing & Services Co. (SMSC), reported Arab News.
Al-Ohali added that the transaction would provide the Saudi firm with an immediate access to experienced and proven marketing, logistics and trading expertise in Switzerland.
He also said that Sipchem, which produces around 2.2 million of chemicals, was founded in December 1999 to develop and invest in petrochemical and chemical industries, both basic and intermediate products used to manufacture a multitude of end-products.
It is worth noting Aectra SA was established in 1995. The company has a network of agents and customers throughout Europe, and enjoys good professional relationships with key producers.
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