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Sabic chief seeks changes in EU chemical industry

Berlin, October 8, 2013

European chemical industry must institute a robust regulatory scheme for more cost efficient manufacturing, Sabic vice chairman and CEO has said.

In a keynote address titled, “Global Leadership and the Chemical Industry,” at the European Petrochemical Association (EPCA) annual meeting in Berlin, Mohamed Al-Mady said: "Europe faces a new reality. It must focus on more cost efficient manufacturing and also institute a robust regulatory framework based on good science with clear goals."

Calling for a proactive and co-ordinated support from the various governments in the region, Al Mady said they need to focus on more resource and cost efficient manufacturing, targeting incentives for innovation at the development stage.

"Governments must proactively support this transition – it cannot be done by industry alone," he stated in his EPCA address.

EPCA is a Brussels-based international non-profit association that serves a global network for the chemical business community consisting of producers of petrochemicals, their suppliers, customers and service providers.
 
Regarding Sabic’s operations in Europe, Al Mady said it will continue to play an active role in the region, striving to maintain its in-market manufacturing presence, providing technology from a growing innovative portfolio, and utilizing the optimal value chain to develop solutions to both Europe’s shifting demographic profile and exportable goods and technologies.

He said that Sabic’s manufacturing capabilities in the continent will target and invest in more resource and cost efficiency, which will in turn improve the company’s environmental footprint.

On innovation, Al-Mady said Sabic will develop technology from its multiple research facilities around the world. “Technology and innovation are central to our future success in Europe as well as the rest of the globe,” he pointed out.

He said historically the European industry’s strength has been its ability to confront difficult challenges and create viable alternatives to achieve greater success. “In my opinion, this industry has the will and the necessary tools to meet the challenge,” he said.-TradeArabia News Service




Tags: sabic | Saudi | petrochemical | Europe |

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