SABIC to raise profile after profits hike

The eleventh largest petrochemical company in the world, the Saudi Arabian Basic Industries Corporation (SABIC), has announced a major communications drive on the back of healthy second quarter profits.

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By  Patrick Phelvin Published  September 17, 2003

The eleventh largest petrochemical company in the world, the Saudi Arabian Basic Industries Corporation (SABIC), has announced a major communications drive to increase its standing on the back of healthy second quarter profits.

The Riyadh-based company says it is about to embark on a major initiative to expand operations locally and around the world. SABIC, which is also a major player in the polyethylene and polypropylene industries, recently hired public relations company Hill and Knowlton to handle its communications program during the expansion.

SABIC realised second quarter net profits of SR1794m (US$478.4), up 29% on first quarter profits of SR1396m (US$372.2m).

At an evening dinner reception for over 250 of its key Gulf-based customers at the Emirates Tower Hotel in Dubai this month, Fahad Al-Sheaibi, Vice President of the PVC/Polyester SBU, commented on SABIC’s role in meeting the needs of the downstream industry in the UAE and other Gulf countries.

He noted that SABIC had advanced internationally to be the 11th largest petrochemicals producer; 3rd in the polyethylene industry and 6th in the polypropylene industry. He added that SABIC was playing a key role in the industrial development of the region.

Referring to the recent implementation of SABIC’s new Global Enterprise System in Riyadh, Europe and Asia Pacific, Al-Sheaibi says: “This system will enable faster decision making, with improvements in efficiency and cost management — for example, shorter intervals between orders and payments, reduced inventory, and improved customer service.”

SABIC is also currently participated in the Dubai Plast Pro congress where it hosted a series of discussions and small company displays. SABIC also delivered three papers — Middle East Polymer Review, SABIC PVC Pipe Resins and Polystyrene Insulation — at the conference.

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