Saudi Basic Industries Corporation (SABIC) is further strengthening its leadership position in China, the world's most important and fastest growing polymers market, with a new Centre of Excellence and the goal of taking its place among the world’s top three petrochemicals companies by 2020.
SABIC Innovation Plastics is reaffirming its commitment to the Pacific region by adding significant production capability to its Pudong, Shanghai facility. In addition, the company is creating a unique Centre of Excellence focused on notebook computers in its China Technology Centre in Shanghai.
SABIC is the largest exhibitor at Chinaplas, the most important plastics trade show in Asia and Mohamed Al-Mady, SABIC Vice Chairman and CEO, commented, “We have increased SABIC’s presence at Chinaplas this year, and we are pleased to introduce SABIC Innovative Plastics to the show for the first time.”
“SABIC Innovative Plastics was launched last year following the acquisition of GE Plastics in September, a move which takes us one step closer to realising our strategic vision of becoming the world’s preferred chemicals supplier.”
SABIC Vice President of Polymers, Abdulsalam Al-Mazro, affirmed, “Our expansions in China are a sign of the confidence that SABIC places in the economic opportunities in China and strongly supports SABIC’s growth strategy of being among the world’s top three petrochemical companies by 2020.”
In January this year, the company signed a Heads of Agreement with SINOPEC for the formation of a 50-50 joint venture to establish a one million tpy ethylene derivatives complex in Tianjin, China.