1998 News Story

Joint venture in petrochemicals

It was announced yesterday that the Saudi industrial company Hamed A. Al-Zamil and Brothers Corporation is setting up a joint venture with the Great Lakes Chemical Corporation to produce anti-oxidants for polymers. The terms of the joint venture, to be based in the Kingdom's industrial city of Al-Jubail, were not disclosed.   The new company is to be called Gulf Stabilizers Industries Ltd. A portion of the production will be marketed to the region, with Great Lakes retaining exclusive sales outside it.