Mustafa Al-Sahan, General Manager of SABIC's Polypropylene Marketing group said: 'Polypropylene demand in Iran has increased by 150% since 1997 and our forecasts suggest that over the next three years Iranian demand is likely to continue to rise. SABIC is now the world's 6th largest producer of polypropylene, and we are looking to increase our production capacity for this product to meet increasing global demand.'
At this year's event, SABIC will be delivering two technical seminars to its customers to provide a deeper understanding of some of its key polymer products. One presentation will focus on polypropylene morphology and applications; the other on emulsion polyvinyl chloride properties and processing.
'Participating in IranPlast gives us a chance to introduce SABIC to potential new customers. For our existing customers, it provides an opportunity for us to thank them for their invaluable support, and to foster stronger partnerships and friendships.' said Al-Sahan.
The exhibition runs from December 10 to 14, 2003 at the International Exhibition Ground in Tehran. The SABIC stand can be found in Hall 35.
SABIC participates in IranPlast 2003
Saudi Basic Industries Corporation (SABIC) is participating in IranPlast 2003, the 2nd International Plastics and Rubber fair, to maintain its presence in this major export market.
- Saudi Arabia: Thursday, December 11 - 2003 at 09:00
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The 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 will become operational in 2003.
SABIC has two large industrial sites in Saudi Arabia - Al-Jubail and Yanbu - with sixteen 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 2002 it amounted to 40.6 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. They annually sell about 2.6 million tonnes of polymers, mainly in Europe. About 2,300 people are employed at SABIC EuroPetrochemicals.
SABIC is the world's 11th largest petrochemical company and it employs over 16,000 people worldwide, mainly in Saudi Arabia. In 2002 SABIC posted sales of approximately SR34bn (US$9.06bn) and a net profit of approximately SR2.84bn (US$758.4m)
Posted by Anne-Birte Stensgaard, Senior News EditorThursday, December 11 - 2003 at 09:00 UAE local time (GMT+4)
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