November 9, 2010 / 3:43 PM / 8 years ago

Sabic's U.S. affiliate, Lummus in technology deal

KHOBAR, Saudi Arabia, Nov 9 (Reuters) - Saudi Basic Industries Corporation (SABIC) 2010.SE said on Tuesday its U.S. subisidiary SABIC Americas Inc. signed a deal with Lummus Technology Inc. to develop a technology to produce paraxylene.

The deal would allow SABIC Americas and Lummus, part of CB&I CBI.N, commercialize the toluene methylation (TM) technology to produce paraxylene.

“This project is aligned with SABIC’s strategy to be a technology provider and licensor,” Abdulrahman Al-Ubaid, SABIC’s executive vice president for technology and innovation, said in a statement.

Reporting by Reem Shamseddine; editing by Mahmoud Habboush

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