Sumitomo - Amendment of Disclosed Matter, Cancellation of Petro Rabigh's Capital Reduction
April 06, 2022 at 08:55 am EDT
Share
Sumitomo Chemical announces that the Rabigh Refining and Petrochemical Company ('Petro Rabigh') will cancel a capital reduction as described in 'Announcement on Petro Rabigh's Capital Reduction and Capital Increase' dated December 7, 2021.
Petro Rabigh will schedule a capital increase by way of a rights issue at a suitable moment as originally planned. Sumitomo Chemical and Saudi Arabia Oil Company ('Saudi Aramco') hold shares in Petro Rabigh as major shareholders.
Sumitomo Chemical Co Ltd is one of the Japanese largest chemical groups. The group is also manufacturing and marketing pharmaceutical products. Net sales break down by family of products as follows:
- petrochemical and plastic products (25.8%): ethylene, polyethylene, propylene, elastomers, agricultural films, etc.;
- pharmaceutical products (23.9%): ethic drugs, radiopharmaceutical products, etc.;
- telecommunication chemical products (18.9%): optic films, pigments, filters, etc.;
- agrochemical and fine chemistryproducts (18.5%): insecticides, herbicides, fertilizers, food additives, etc.;
- functional chemical products (10.7%): methanol, caustic soda, aluminum hydroxide, alumina, nitric acid, acrylonitrile, active pharmaceutical ingredients, polymeric additives, resorcine, colorants, etc.;
- other (2.2%).
Net sales break down geographically as follows: Japan (31.7%), China (19.2%), Asia (19.5%), North America (17.7%), Europe (4.2%) and other (7.7%).
SUMITOMO CHEMICAL CO., LTD. 
