Owens Corning sells StaMax share to SABIC. (In Brief).
SABIC EuroPetrochemicals of Geleen, Netherlands, will acquire the 50% ownership in StaMax BV held by Owens Corning of Toledo. The StaMax joint venture was formed in 1999 between OC and DSM of the Netherlands. It produces long-glass polypropylene injection molding compounds. SABIC, based in Saudi Arabia, bought DSM's engineering plastics business, including its share of StaMax BV, in 2002. SABIC will use OC's patented process and proprietary glass fiber to produce StaMax P materials under license from OC and will have exclusive sales and marketing rights in Europe. OC will have sales and marketing rights in North America.