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Saudi Basic Industries 

“Market Cap $94.4 B As of May 2014

At a Glance
  • Industry: Diversified Chemicals
  • Founded: 1976
  • Country: Saudi Arabia
  • CEO: Mohamed Al-Mady
  • Website: www.sabic.com
  • Employees: 40,000
  • Sales: $50.4 B
  • Headquarters: Riyadh
Forbes Lists

#98 Global 2000

  • #169 in Sales
  • #81 in Profit
  • #276 in Assets
  • #80 in Market value
Profile

Saudi Basic Industries Corp. engages in the industrial sector. Its operations are divided into the following business segments: Chemicals, Fertilizers, Metals, and Corporate segment. The chemicals segment includes chemicals, polymers, performance chemicals and innovative plastics. The Fertilizers segment consists of fertilizer products. The Metals segment consists of steel products. The Corporate segment includes the corporate operations, technology and innovation centers, the investment activities, and SABIC Industrial Investments Company. The company was founded on September 6, 1976 and is headquartered in Riyadh, Saudi Arabia.

“Saudi Basic Industries History

SABIC was founded in 1976 by royal decree to convert oil by-products into useful chemicals, polymers and fertilizers. The first director general of the company was Ghazi Abdul Rahman Al Gosaibi.

SABIC’s founding transformed the small fishing villages of Jubail on the Persian Gulf and Yanbu on the Red Sea into modern industrial cities. Production in 1985 was 6.5 million tons; five years later production rose to 13 million tons and by 2003 production had risen to 42 million metric tons and by 2012 to over 60 million tons. SABIC employs more than 40,000 people globally and has 60 manufacturing and compounding plants in over 40 countries.

SABIC’s manufacturing network in Saudi Arabia consists of 18 affiliates. Most of these are based in the Al-Jubail Industrial City on the coast of the Persian Gulf. Two are located in Yanbu Industrial City on the Red Sea and one is in the eastern city of Dammam. SABIC is also partners in three regional ventures based in Bahrain. SABIC is a market leader in key products such as ethylene, ethylene glycol, methanol, MTBE and polyethylene.SABIC’s wholly owned subsidiary, the Saudi Iron and Steel Company (Hadeed), based in Al Jubail, is one of the world’s biggest fully integrated producers.”

*Information from Forbes.com and Wikipedia.org

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