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Bangkok – 25 February 2026: Marking the first-ever collaboration of three industry leaders, Taokaenoi Food & Marketing Public Company Limited, or TKN, a manufacturer of seaweed snacks distributed domestically and internationally, SCG Chemicals, or SCGC, a leading integrated polymer and solutions provider for sustainability, and Dow Thailand Group, or Dow, a global leader in materials science, have jointly announced the signing of a landmark Memorandum of Understanding (MoU) to revolutionize the snack industry through the “Food-Grade Circular Packaging by Advanced Recycling Technology” project. This initiative aims to sustainably address plastic waste challenges under the concept of closed-loop recycling. This collaboration entails utilizing multi-layer packaging waste from the production processes of Taokaenoi, which was previously difficult to recycle. This waste will be processed using the advanced recycling technology of SCGC and converted back into circular feedstock. Following this, Dow will utilize the feedstock to produce new, clean, and food-grade plastic resins. These resins will then be safely used to manufacture food packaging for the Taokaenoi brand once again. It is anticipated that the packaging will be ready for commercial distribution by the end of 2026. Ms. Orrapat Peeradechapan, Chief Executive Officer of Taokaenoi Food & Marketing Public Company Limited, said, “Taokaenoi is committed to creating happiness for consumers through high-quality snacks, alongside prioritizing ESG (Environmental, Social, and Governance) principles by emphasizing sustainable economic, social, and environmental development. This collaboration represents a significant milestone that transforms the ‘challenge’ of hard-to-recycle packaging into an ‘opportunity’ to establish a practical circular economy. It is not merely about waste disposal, but rather about creating new value from used plastic. We do not only deliver great-tasting products, but we also aim to deliver a better world to consumers through eco-friendly packaging innovations that are clean, safe, and tangibly reduce environmental impacts. This will drive our business to grow alongside genuine sustainability.” Dr. Suracha Udomsak, Chief Operations and Innovation Officer of SCGC, said, “This collaboration reflects the capability of SCGC in utilizing advanced recycling technology to manage plastic packaging composed of multiple materials, which is difficult to recycle, and converting it back into circular feedstock. This feedstock can be used to produce new plastic resins (Certified Circular Polyolefin Resin), which possess properties and quality entirely equivalent to standard virgin plastic resins in all respects and are safe for direct food contact. As a result, the materials can be reused to manufacture food packaging for Taokaenoi. In addition, our process has achieved the globally recognized sustainability certification, ISCC PLUS (International Sustainability and Carbon Certification), throughout the entire supply chain, making SCGC the first company in ASEAN to achieve such certification. This partnership is considered a crucial step in driving SCGC’s goal of reintegrating used plastic into the circular economy system at a volume of 500,000 tons per year by 2030, through collaborations with business partners across the entire value chain.” Meanwhile, Mr. Vichan Tangkengsirisin, President of Dow Thailand, added, “As a materials science leader, Dow is proud to support this collaboration in Thailand by applying our technology to produce circular plastic resins from used flexible packaging feedstock with performance equivalent to fossil-based plastics. Dow Thailand Group’s polyethylene facility in Rayong is ISCC PLUS certified for its capability of converting advanced recycled feedstock into high quality, food grade circular resins. This initiative represents an important step toward closing the plastics loop in Thailand and advancing Dow’s sustainability ambition to transform the waste through collaboration with customers and value chain partners.” This collaboration serves as a model for the comprehensive management of used multi-layer plastic packaging. It reduces the accumulation of plastic waste in the country and decreases the consumption of new resources. This aligns with the sustainability goals of Taokaenoi, SCGC, and Dow, reinforcing the role of the business sector in tangibly driving the circular economy to build a sustainable future together.
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March 2026

SABIC divests assets in Petchem and thermoplastics business for US$950M

The Saudi Basic Industries Corporation (SABIC) will make two strategic transactions to divest its European Petrochemicals (EP) business to AEQUITA and its Engineering Thermoplastics (ETP) business in the Americas and Europe to MUTARES, for a total combined enterprise value of $950 million.

Transaction: European Petrochemicals business

SABIC has agreed to sell its European Petrochemicals (EP) business to AEQUITA for an enterprise value of $500 million.

SABIC’s EP business produces and markets various products: ethylene, propylene, low- and high-density polyethylene (LDPE, LLDPE, and HDPE), polypropylene (PP), and value-added polymer compounds, and manages a number of manufacturing sites, including in Teesside, the United Kingdom; Geleen, the Netherlands; Gelsenkirchen, Germany; and Genk, Belgium.

Transaction: Engineering Thermoplastics business

SABIC has also agreed to sell its regional Engineering Thermoplastics (ETP) business in the Americas and Europe to MUTARES for an enterprise value of $450 million. The business operates production sites in Canada, the US, Brazil, and Spain, supplying specialty plastics used in sectors such as automotive, electronics, and industrial applications.

Sabic said that it is divesting lower-return businesses to focus on high margin markets and products where they have clear competitive advantage, recycle capital to higher-return opportunities and improve free cash flow, whilst continuing to serve its global customers and maximize shareholder value.

Commenting on the transactions, Chairman of the Board of Directors of SABIC Khalid H. Al-Dabbagh, said: “The Board endeavored to achieve these transactions, which represent a significant milestone in the execution of our strategy to further optimize our portfolio and maximize shareholder value by enhancing the Company’s cash generation capacity and achieving the highest possible return on our global businesses”.

Abdulrahman Al-Fageeh, Chief Executive Officer of SABIC, said: “These transactions represent a continuation of our Portfolio Optimization Program, which started in 2022 and included previous actions, such as the divestment of Functional Forms, Hadeed and Alba. This strategic approach allows us to actively reshape our portfolio and sharpen our focus on areas where SABIC has clear and sustainable competitive advantages in a rapidly changing landscape”.

These transactions reposition SABIC for longer-term success by refocusing financial resources and management attention towards growth areas where the Company has clear competitive advantages.

The divestments are expected to enhance SABIC’s performance, including through increasing overall EBITDA margins, improving free cash flow generation, and supporting higher return on capital employed (ROCE), enabling the Company to optimize capital and align its profitability aspirations with a value-accretive portfolio.