A company with a large plant in Posey County is looking to sell part of its business. WNIN’s John Gibson reports:
SABIC has reached agreement with a German company, Röhm Holding, to sell SABIC’s Functional Forms business.
A news release from the company says it’s focusing instead on petrochemicals, agri-nutrients, and what it calls specialties.
It’s not clear what impact the deal may have on the Mt. Vernon SABIC plant, which employs about 1,300 people.
Final agreements between the two companies are expected to be signed in the coming months, with the transaction possibly completed in the first half of 2024.
SABIC says more information about the potential deal will be available once the transaction is finalized.