SABIC strengthens presence in China
Posted: 21 April 2008
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Saudi Basic Industries Corporation (SABIC) is further strengthening its leadership position in China, the world’s most important and fastest growing polymers market. SABIC is the largest exhibitor at Chinaplas, the most important plastics trade show in Asia according to the company.
“We have increased SABIC’s presence at Chinaplas this year, and we are pleased to introduce SABIC Innovative Plastics to the show for the first time,” said Mohamed Al-Mady, SABIC Vice Chairman and CEO.
“SABIC Innovative Plastics was launched last year following the acquisition of GE Plastics in September, a move which takes us one step closer to realizing our strategic vision of becoming the world’s preferred chemicals supplier,” Al-Mady said.
“We are now a major global producer and supplier of advanced highly engineered thermoplastics in addition to being a major producer of basic and intermediate chemicals,” Al-Mady added.
SABIC Innovation Plastics is reaffirming its commitment to the Pacific region by adding significant production capability to its Pudong, Shanghai facility. In addition, the company is creating a unique Center of Excellence focused on notebook computers in its China Technology Center in Shanghai.
“Our production expansion and new Center of Excellence are two more examples of SABIC Innovative Plastics’ ongoing commitment to our customers’ success in Greater China and Asia,” said Brian Gladden, President & CEO, SABIC Innovative Plastics.
SABIC’s Vice President, Polymers Abdulsalam Al-Mazro, said: “Our expansions in China are a sign of the confidence that SABIC places in the economic opportunities in China and strongly supports SABIC’s growth strategy of being among the world’s top three petrochemical companies by 2020.”
In January this year, SABIC signed a Heads of Agreement with SINOPEC, for the formation of a 50-50 joint venture to establish a one million metric tons per year ethylene derivatives complex in Tianjin, China. This agreement is a key milestone towards realizing SABIC’s goal of establishing a manufacturing site in Asia. |
