# Saudi Aramco acquires Novomer's polyol business

Saudi Aramco acquired the Converge polyol product line and associated operations from Novomer Inc. for up to $100 million. The polyols are made from CO2 and used in coatings, adhesives, sealants, and elastomers.

- Type: Acquisition
- Announced: 2016-11-12
- Where: Dhahran, Saudi Arabia, Saudi Arabia
- Value: $100.0M
- Status: announced
- Products: Converge polyols, CO2-based polyols
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Saudi Aramco](https://endata.com/companies/304.md) (acquirer)
- [Novomer](https://endata.com/companies/305.md) (target)

## Sources

- [pcimag.com](https://www.pcimag.com/articles/102738-saudi-aramco-acquires-novomers-polyol-business), 2016-11-13: "There is compelling industrial logic to the Converge polyol technology deal, as it enables the conversion of waste CO2 into cleaner, high-value end-products with significant performance, cost and carbon footprint improvements."
- [doi.org](https://doi.org/10.1021/cen-09445-buscon007), 2016-11-14: "Saudi Arabia’s national oil company, Saudi Aramco, will pay up to $100 million to acquire Novomer’s Converge polyols business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.