Sabic strengthens presence at Chinaplas expo
Riyadh, April 22, 2008
Saudi Basic Industries Corporation (Sabic) has further strengthening its leadership position in China, the world’s most important and fastest growing polymers market.
Sabic is the largest exhibitor at Chinaplas, the most important plastics trade show in Asia.
“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,” said Sabic vice-chairman and CEO Mohamed Al-Mady.
“Sabic Innovative Plastics was launched last year following the acquisition of GE Plastics in September, a move which takes us one step closer to realizing our strategic vision of becoming the world’s preferred chemicals supplier,” said Al-Mady.
“We are now a major global producer and supplier of advanced highly engineered thermoplastics in addition to being a major producer of basic and intermediate chemicals,” Al-Mady added.
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 Center in Shanghai.
“Our production expansion and new Center of Excellence are two more examples of Saboc Innovative Plastics’ ongoing commitment to our customers’ success in Greater China and Asia,” said president and CEO, Sabic Innovative Plastics Brian Gladden.
In January this year, Sabic signed a Heads of Agreement with Sinopec, for the formation of a 50-50 joint venture to establish a one million metric tons per year ethylene derivatives complex in Tianjin, China. This agreement is a key milestone towards realizing SABIC’s goal of establishing a manufacturing site in Asia. – TradeArabia News Service