SABIC

Infobox_Company
company_name = Saudi Basic Industries Corp.
company_
company_type = Public
company_slogan = Sharing Our Futures
foundation = 1976
location = Riyadh, Saudi Arabia
key_people = Prince Saud Bin Thunayan Al-Saud, Chairman
Mohammed Al Mady, CEO
num_employees = 19,000 (2006)
industry = Manufacturing and hydrocarbon-based industry
products = Chemicals and intermediates, industrial polymers, fertilizers and metals
revenue = $23.021 billion USD (2006)
operating_income = $9.31 billion USD (2006)
net_income = $5.412 billion USD (2006)
homepage = [http://www.sabic.com/ www.sabic.com]

SABIC (Saudi Basic Industries Corp) is a diversified manufacturing company, active in chemicals and intermediates, industrial polymers, fertilizers and metals. It is the largest public company in Saudi Arabia as listed in Tadawul, but the Saudi government still owns 70% of its shares. Private sector shareholders are from Saudi Arabia and other countries of the six-nation Gulf Cooperation Council (GCC).

SABIC is currently the second largest global ethylene glycol producer and is expected to become number one after the introduction of these new projects. SABIC is the third largest polyethylene manufacturer, the fourth largest polyolefins manufacturer and the sixth largest polypropylene manufacturer.Fact|date=May 2008 The company is based in Riyadh and has interests in 17 affiliated companies which range from full ownership to significant partial participation.

History

SABIC was founded in 1976 by Royal Decree to convert oil byproducts into useful chemicals. SABIC's founding transformed the small fishing villages of Jubail on the Persian Gulf and Yanbu on the Red Sea into modern industrial cities. Production in 1985 was 6.5 million tons, 5 years later production rose to 13 million tons and by 2003 production has risen to 42 million metric tons and a total worldwide employment of 16,000 people.Fact|date=May 2008

SABIC's manufacturing network in Saudi Arabia consists of 18 affiliates. Most of these are based in the Al-Jubail Industrial City on the Persian Gulf. Two are located in Yanbu Industrial City on the Red Sea and one in eastern province city of Dammam. SABIC is also partners in three regional ventures based in Bahrain.

In July 2002 SABIC commenced operations in Europe after the acquisition of the petrochemicals business of Dutch group DSM. (SEP). SABIC Europe employs 2,300 people and has two major manufacturing locations in Geleen in the Netherlands and Gelsenkirchen in Germany. In January 2007, SABIC Europe took over Huntsman Corporation plants in the UK at North Tees and Teesside.

On May 21, 2007, SABIC acquired General Electric's Plastics division in a $11.6 billion cash deal, including $8.7 billion of its liabilities, [ [http://www.nytimes.com/2007/05/22/business/22plastics.html/ "The New York Times" 22 May 2007] ] . In the same year, the company ranked 145 (Previous rank: 301) in Forbes Global 2000 list. [ [http://www.forbes.com/lists/2008/18/biz_2000global08_The-Global-2000_Rank_2.html Forbes Global 2000, 2008] ]

ubsidiaries

*Hadeed
*Ibn Sina
*Ibn Zahr
*Sadaf
*GAS
*Petrokemya
*Kemya
*Ar-razi
*Al-Bayroni
*Yanpet
*Ibn Rushd
*Sharq
*Ibn Hayyan
*Safco
*Jubail United
*Tayf
*YANSAB
*Saudi Kayan
*SABIC Europe
*SABIC Innovative Plastics (formerly GE Plastics)

Products

*Ethylene
*Propylene
*Butadiene
*Butene-1
*CIE (Crude Industrial Ethanol)
*MTBE (Methyl Tertiary Butyl Ether)
*Styrene Monomer
*Benzene
*Paraxylene
*CBO (Carbon Black Oil)
*Caustic Soda
*EDC (Ethylene Dichloride)
*VCM (Vinyl Chloride Monomer)
*Phenol
*Acetone
*Bisphenol A
*Fertilizers
*Steel
*Methanol
*Lexan Polycarbonate
*Noryl PPO
*Cycolac (Acrylonitrile butadiene styrene)
*Cycoloy (Polycarbonate / Acrylonitrile butadiene styrene blend)
*Ultem (Polyetherimide)
*Extem (Polyetherimide)
*Geloy (Acrylonitrile Styrene Acrylate / Acrylonitrile butadiene styrene blend)
*Valox (Polybutylene Terephthalate)
*Xenoy (Polycarbonate / Polybutylene Terephthalate blend)
*Xylex (Polyester/Polycarbonate blend)

ee also

*List of Saudi Arabian companies
*Saudi Aramco
* Amcor
* Brødrene Hartmann

References

External links

* [http://www.sabic.com.sa/ Official website]
* [http://www.sabic-ip.com/ SABIC Innovative Plastics]