InterviewSABIC Innovative improves position

31 August 2007 20:51  [Source: ICIS news]

By Joseph Chang

NEW YORK (ICIS news)--SABIC Innovative Plastics, the new name for GE Plastics, will be in a better position to continue its strategy of product innovation with the strong financial resources and long-term support of its parent, said the division’s president and chief executive on Friday.

“Our strategy remains the same in terms of our focus on innovation, bringing differentiated products to market, and how we support our customers,” said Brian Gladden in an interview with ICIS news.

“With the support of SABIC [Saudi Basic Industries Corp], it just allows us to recommit to leadership in our markets - not only having a big capacity position but having the capital to invest in new products,” Gladden continued. “We won’t be managing the business for quarterly results, but for the long-term success.”

As part of SABIC, the former GE Plastics business will enjoy a feedstock advantage as SABIC is back-integrated into key raw materials such as benzene.

“SABIC’s portfolio of intermediates fits well with our product portfolio,” Gladden pointed out. “They have benzene they sell on the merchant market, and we need that as a raw material, so we’ll try to optimise that opportunity for the whole company.”

In addition, SABIC is building significant polycarbonate capacity in Saudi Arabia, which will give the company a leadership position in the key plastic,” said Gladden.

In terms of sales opportunities, “we can take our engineering resins and bring to market their polyolefins to certain markets such as automotive where they buy all of those materials”, said Gladden. “They can also sell our products into their key accounts.”

By: Joseph Chang
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