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Wednesday, November 25 - 2009
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SABIC launches 2nd Annual Global Human Resources Conference

SABIC has launched its 2nd Annual Global Human Resources Conference in Riyadh.

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The meeting ends on 14 June. The theme of this year's conference is, 'Meeting the Global Challenge for Talent'. The conference will be attended by the company's senior Executive team, Human Resource (HR) professionals from SABIC's Corporate HR Department and HR representatives from all of its global operations in Europe, the US, Asia Pacific, and the Middle East.

Mohammad Al-Bat'hi, SABIC Vice President for Corporate Human Resources said, "Many businesses and management experts believe that global competition for the right talent will intensify in the next decade. Indeed, some experts are calling this competition the 'War of Talent' between global companies.

"Leading experts say that in the near future, most global companies will have similar access to technology and financial resources. The key factor which will make them different and signify the key to success of any company in reaching its objectives and realizing its vision will be human capital. Essentially, the success of any global company will depend heavily on its ability to attract, retain, develop and motivate the right global talents."

The meeting is another step SABIC is taking towards developing a true global HR practice resulting in the most efficient and effective utilization of SABIC's human capital. In addition, SABIC aims that such global practice will contribute towards the realization of SABIC's vision of becoming a global leader in the Petrochemical industry, and will further support the achievement of all SABIC's desired objectives related to that vision.

The focus of this year's meeting will be on competing for global talent. SABIC realizes that in order to achieve its global objectives, it must successfully be able to attract and retain the most qualified human talent needed for its business. Accordingly, SABIC is striving to become the global employer of choice of dynamic, ambitious, high potential, and competent human capital.

The meeting will also discuss current and future global initiatives and projects aimed at developing a business culture for SABIC based on team work, recognition, linking performance to reward, changing SABIC to a learning and innovative organization, and allowing people to rise to their maximum potential and creativity to achieve their personal career goals while contributing to accomplishment of corporate objectives.

The keynote speaker is Professor William Scott-Jackson, Fellow at St. Cross College, Oxford University (UK) and Director of the Centre for Applied HR Research at Oxford Brookes University Business School.
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Notes and media contacts

Othman Al-Humaidi
General Manager, Corporate Communications

Saudi Basic Industries Corporation (SABIC) is the largest public company in the Middle East, ranked by market capitalization (more than US$ 150 billion), and one of the world's 10 largest petrochemicals manufacturers. The company is among the world's market leaders in the production of polyethylene, polypropylene, glycols, methanol, MTBE and fertilizers as well as the fourth largest polymer producer.

SABIC's profit rose to a record SR 19.2 billion (US$ 5.1 billion) in 2005, a 35% increase on 2004 and the company's highest profit since inception. Sales revenues for 2005 totaled SR 78.3 billion (US$ 20.8 billion), making SABIC the largest and most profitable public company in the Middle East.

SABIC operates six interlinked strategic business units: Basic Chemicals, Intermediates, Polyolefins, PVC and Polyester, Fertilizers and Metals. The company has significant research resources and has dedicated Research and Technology centers in Riyadh, Geleen in the Netherlands, Houston USA and Vadodara in India. SABIC has more than 17,000 employees worldwide.

SABIC has two large production sites in Saudi Arabia - in Al-Jubail and in Yanbu - comprising 18 world-scale complexes. Some of these complexes are operated with multi-national joint venture partners such as Exxon Mobil, Shell and Mitsubishi Chemicals. SABIC's overall production capacity has increased from 35.4 million metric tons in 2001 to 46.7 million metric tons of production in 2005.

Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for 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 Gulf Cooperation Council countries.

SABIC Europe, headquartered in Sittard, the Netherlands, employs nearly 2,450 people and operates two petrochemical production sites in Geleen, the Netherlands and Gelsenkirchen in Germany for the production of polypropylenes, polyethylenes and liquid hydrocarbons. These are marketed by its European network of sales offices and logistical hubs. In 2005, SABIC Europe produced 2.5 million metric tons of polyolefins and 3.1 million metric tons of basic chemicals, mainly for the European market.

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