25 May 2007 09:34 [Source: ICIS news]
By Nurul Darni
SINGAPORE (ICIS news)--Saudi Basic Industries Corp’s (SABIC) aims to focus on organic growth in Asia, and isn’t looking for acquisitions in the region, SABIC’s chief executive officer said on Friday.
“We aim to establish organic growth in ?xml:namespace>
SABIC has 11 offices in eight countries in the Asia Pacific region.
The Saudi petrochemicals major said it has no plans to acquire companies in Asia as “there is no culture of companies or companies’ assets being put up for sale in Asia, compared with Europe and the
Earlier this week, it opened two new offices in
This month, SABIC successfully acquired GE Plastics for $11.6bn. The acquisition would give SABIC an important foothold in key automotive, consumer and industrial plastic markets.
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