HELM AG to market DIMETHYL FORMAMIDE produced by CHEMANOL
Al-Jubail, Saudi Arabia and Hamburg, Germany, - June 11th, 2007
CHEMANOL registered as METHANOL CHEMICALS CO. (formerly Saudi Formaldehyde Chemical Co. Ltd.) and HELM AG signed an agreement for the sales and marketing of up to 60,000 tons per year of DIMETHYL FORMAMIDE (DMF). DMF is an important solvent in the production of pharmaceutical and agrochemical intermediates, synthetic leather, polyacrylonitrile and spandex fibre and an extraction agent in petrochemicals.
The DMF project is a significant step in the implementation of CHEMANOL’s strategy to extend the value chain to downstream products. This exclusive marketing agreement is another milestone in the implementation of HELM AG’s strategy to be a global marketing partner for the chemical industry.
The long-term agreement becomes effective with the on-stream date of the plant which is planned for Q2/2008.
CHEMANOL, a specialist in methanol-based petrochemicals, is currently producing and exporting to more than 45 countries worldwide, its premier grade Formaldehyde and derivative products. CHEMANOL is rapidly expanding its capacities and diversifying its product range by adding Methyl Amines, Di Methyl Formamide, Pentaerythritol and Sodium Formate products to its current product basket. Now it will produce its own methanol, leveraging the natural resources of Saudi Arabia for its competitive advantage.
HELM AG, a Hamburg, Germany based, family-owned company with a tradition of more than 100 years, in its role as a multifunctional marketing organisation of chemicals, active pharmaceutical ingredients and fertilizer is one of the world’s leading independent companies in this field with a turnover of USD 7.3 billion in 2006.
“This long-term agreement is a continuation of our faithful cooperation with our partners from CHEMANOL”, said Hartmut Glaser, Member of the Executive Board at HELM AG. “The excellent location of the production in combination with our worldwide operating marketing- and service-organisation will offer DMF consumers a new alternative for supply”.
 |
For more information from CHEMANOL, please contact: |
 |
For more information from HELM AG, please contact: |