He delivered the breakfast keynote address at the 2004 National Petrochemical and Refiners Association (NPRA) International Petrochemical Conference (IPC), the largest and most prestigious conference for the global petrochemical industry.
"I am honored to have been invited to address my colleagues about the growth of the petrochemical industry in the Middle East at this premier conference. The global industry is evolving and changing more rapidly than we have ever seen, and the Middle East is at the forefront of that transformation," said Mr. Al-Mady. "SABIC possesses a unique perspective in the world, as it combines industry infrastructure and market sophistication with access to raw materials and a centrally located position in the global marketplace."
While in the U.S., Mr. Al-Mady addressed employees at Little Ferry, N.J.-based Scientific Design Company Inc., which SABIC jointly acquired with Süd-Chemie in 2003. He also traveled to Houston to speak with the employees at SABIC Americas' headquarters and state-of-the-art research and technology center in Sugar Land, Texas.
The International Petrochemical Conference is the largest conference representing the global petrochemical industry, hosting more than 3,000 attendees from 45 countries at the San Antonio Convention Center in San Antonio, Texas, March 28-30.
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SABIC CEO addresses international petrochemical conference
- Saudi Arabia: Tuesday, March 30 - 2004 at 13:20
- PRESS RELEASE
Saudi Basic Industries Corporation (SABIC) Vice Chairman and Chief Executive Officer Mohamed H. Al-Mady discussed the Middle East's growing role in the global petrochemical industry yesterday.
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About SABICThe 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 became operational in 2003.
SABIC has two large industrial sites in Saudi Arabia - Al-Jubail and Yanbu - with 16 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 2003 it amounted to 42.3 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. It annually sells about 2.6 million tonnes of polymers, mainly in Europe. About 2,300 people are employed at SABIC EuroPetrochemicals.
SABIC employs more than 16,000 people worldwide, most of whom are based in Saudi Arabia. In 2003, SABIC posted sales of approximately SR47.1bn (US$12.56bn) and a net profit of approximately SR6.716bn (US$1.79bn).
Posted by Christine H. Andersen, Assistant News EditorTuesday, March 30 - 2004 at 13:20 UAE local time (GMT+4)
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This article was updated on Sun Jul 17 2005.
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