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HRH Crown Prince Abdullah Bin Abdulaziz Al-Saud visits SABIC stand in Moscow

Posted: 4 September 2003

HRH Crown Prince Abdullah Bin Abdulaziz Al-Saud inaugurated ‘The Saudi Exhibition for National Industry’ in Moscow.

Following the official opening of the exhibition, the Crown Prince and a senior Saudi delegation visited the SABIC stand and were received by Mohammad Al-Motawa, General Manager, Corporate Communications.

Following the Crown Prince’s visit, Abdul Rahman Al-Jeraisy, Chairman of the Council of the Saudi Chambers of Commerce and Industry said: “The visitors were very impressed by the professional standards of the exhibition and the quality of products displayed by the Saudi companies present.”

The exhibition runs from 3rd-7th September. SABIC is one of 47 leading Saudi companies participating in this important trading occasion for the Kingdom.

About SABIC
The Middle East’s largest petrochemicals company, SABIC, is based in Riyadh, Saudi Arabia.

It was founded in 1976, when the Saudi Arabian Government decided to use hydrocarbon gases released in the production of oil as raw material for the production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70% of SABIC shares, with the remaining 30% held by private investors in Saudi Arabia and other countries of the Gulf Cooperation Council (GCC).

SABIC’s business activities have been restructured and a new management model became effective on 1 September 2002. There are now six Strategic Business Units (SBUs): Basic Chemicals; Intermediates; Polyolefins; PVC & Polyester; Fertilizers and Metals. Supporting all these functions is a corporate core consisting Human Resources; Corporate Finance; Corporate Control and Research & Technology. A Shared Services Organization will become operational in 2003.

SABIC has two large industrial sites in Saudi Arabia – Al-Jubail and Yanbu – with sixteen world-scale production complexes.

Some of these production complexes are operated with multi-national partners such as Exxon Mobil, Shell, Fortum, Ecofuel/ENI and Mitsubishi Chemicals. In addition, SABIC has interests in three production complexes in Bahrain.

Over the last 16 years, SABIC’s overall production capacity has increased considerably. In 2002 it amounted to 40.6 million metric tons.

SABIC EuroPetrochemicals owns two petrochemical production sites in Geleen (Netherlands) and Gelsenkirchen (Germany) for the production, marketing and sales of polypropylenes, polyethylenes and hydrocarbons.

They annually sell about 2.6 million tonnes of polymers, mainly in Europe. About 2,300 people are employed at SABIC EuroPetrochemicals.

SABIC employs over 16,000 people worldwide, most of whom are based in Saudi Arabia. In 2002 SABIC posted sales of approximately SR34bn (US$9.06bn) and a net profit of approximately SR2.84bn (US$758.4m).

Posted by Richard Price, Editor Pipeline Magazine

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