Saudi International Petrochemicals Company (Sipchem) said on Saturday it exported its first shipment of acetic acid. Sipchem said last month it expected to begin exporting acetic acid in January.

Acetic acid is produced by the International Acetyl Co (IAC), a Sipchem affiliate, and the first shipment went to Asian markets on Friday, Sipchem said in a statement on the Saudi bourse website.

The acetic acid plant in Jubail has a production capacity of 460,000 tonnes per year and 50,000 tonnes of acetic anhydride. Acetic acid is used as a solvent and in the manufacture of rubber, plastics, acetate fibres and pharmaceuticals.

Almost half of the acetic acid is used as a feedstock for the vinyl acetate monomer plant which Sipchem plans to commission this month, it said in the statement.

IAC is 87 per cent-owned by Sipchem while Germany's Helm AG has a 10 per cent-stake.-Reuters