Saudi Basic Industries Corporation (SABIC) is a manufacturer of chemicals, fertilizers, plastics and metals. The Saudi Arabian-based company claims to be one of the world’s top ten largest petrochemicals manufacturers.
SABIC’s continuing strategy includes focussing on its marketing efforts; improving productivity while maintaining high technical and quality standards; integration of its business activities; and training and career development of its employees.
SABIC believes that it is the ‘most consistently profitable’ public company in the Middle East. This success is the result of a focus on investment in local partnerships, the best research and technology programmes, and an ambitious global growth strategy.
In 2009, SABIC has revenues of SR103bn and has around 33,000 employees worldwide with headquarters in Riyadh, Saudi Arabia.
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Chairman: Prince Saud bin Thunayan Al-Saud
Vice chairman and chief executive officer: Mohamed H. Al-Mady
Deputy minister (planning): Ahmad Al-Hakami
Representative (finance): Abdulmuhsin Ibn Abdulaziz Al-Faris
Deputy minister (industrial affairs): Saleh E. Al-Hussseini
Private sector member: Mohammed S. Abanumay
Private sector member: Abdullah M. Al-Issa
Saudi Basic Industries CorporationPO Box 5101Riyadh 11422 Saudi Arabia Tel: +966 1 225 8000Fax: +966 1 225 9000
Saudi Basic Industries Corporation (SABIC) is a manufacturer of chemicals, fertilizers, plastics and metals. SABIC claims that it is the largest and most profitable non-oil company in the Middle East and one of the world’s top ten largest petrochemicals manufacturers. The origins of SABIC come from a decision made by Saudi Arabia in the 1970s to use the flared associated gases from its oil well heads to make value-added industrial commodities. In September 1976, SABIC was established to add value to Saudi Arabia's natural hydrocarbon resources.
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SABIC believes that it is the “most consistently profitable” public company in the Middle East. “By creating a corporate environment which inspires innovation and talent we have positioned SABIC as one of the world’s largest petrochemical businesses. A new business model and continued investment commitment in plant and equipment will ensure we will achieve our long-term goals,” says vice chairman and chief executive officer, Mohamed Al-Mady. (Edited from annual report and company website). ICIS also provides you with key financial data listed in table form.
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