Product category:
Oil, Gas, Petrochemical Industry News
News Release from: SABIC
Edited by the Processingtalk Editorial
Team on 28 September 2006
Sabic and ExxonMobil settle their
disputes
Saudi Basic Industries Corporation has reached a full and final settlement of its disputes with ExxonMobil arising from technology and a patent that can be used in the production of polyethylene
Saudi Basic Industries Corporation (Sabic) has reached a full and final settlement of its disputes with ExxonMobil arising from technology and a patent that can be used in the production of polyethylene Pursuant to the settlement, Sabic and its worldwide affiliates will have the right to use the technology, royalty-free, and will equally share in any third-party royalties from the past or future licensing of the technology by ExxonMobil
All disputes and litigations between Sabic and its partner ExxonMobil have thus been fully and finally settled.
The partners value their long-term business relationship and will continue to focus on their successful ventures in the Kingdom and will explore opportunities to expand on that success.
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