Pittsfield, MA, October 30, 2010 --(PR.com
)-- At the K Show, Hall 6, Stand D42, the Innovative Plastics strategic business unit of SABIC, today announced the establishment of a new business unit to meet growing customer demand for advanced engineering thermoplastic materials and application development expertise in the Middle East and Africa. This new organization, which is based in Riyadh, Saudi Arabia, demonstrates SABIC’s strong commitment to this increasingly important region – providing customers access to a robust portfolio of more than 40,000 high-performance resins. The new business unit will be led by Richard Crosby, a veteran Innovative Plastics executive and scientist.
“Our innovation in materials and service has been a key differentiator in helping customers be successful in growing and dynamic markets – from understanding their unique requirements to continuously innovating high-performance materials, technologies and services that help give them competitive differentiation,” said Charlie Crew, president and chief executive officer, Innovative Plastics. “Under Richard’s leadership, we are committed to providing the same level of support in the Middle East and Africa to help OEMs and processors in the region create world-class products. This new business unit will enable customers to easily leverage our expansive portfolio of solutions to meet the changing requirements of local and global markets.”
Today’s announcement is the second recent example of SABIC’s focus to bring advanced materials solutions to this important region. The company recently announced a new Application Development Technology Center in Riyadh, which is slated to open in late 2012. The center will offer customers advanced design, material development, conversion processing and part testing.
“Innovative Plastics’ proven success in serving global industries such as appliances, automotive, building and construction, alternative energy and electrical components will enable us to establish and grow new customer relationships as well as create greater market demand in this growing region,” noted Crosby. “For example, the solar energy industry, a major focus area for the Middle East, uses several of our engineering thermoplastics in current photovoltaic applications and will need new innovative materials for future designs. We see an opportunity to add value to the design, development and production of new applications across multiple markets helping our customers achieve their business goals.”
Crosby brings 22 years of extensive experience in business development, marketing and technology to his role. Most recently he served as the general manager of marketing and technology for the Innovative Plastics’ business unit in the Pacific. He holds a doctorate in chemistry from Texas A&M University.
For additional information on SABIC Innovative Plastics’ thermoplastic materials portfolio, please go to www.sabic-ip.com. For technical product inquiries, please contact us at www.sabic-ip.com/prtechinquiry.
SABIC is Exhibiting at K 2010 in Düsseldorf, Germany in Hall 6, Stand D42
For K 2010, SABIC’s focus is A Culture of Innovation, which means investing in Growth, Technology, Sustainability and Customer Focus. We help our customers to innovate, differentiate their applications and optimize costs by:
· Investing in global expansion;
· Providing the broadest product portfolio that delivers better performance and adds value;
· Developing environmentally responsible products and solutions that provide significant and measurable performance advantages; and
· Working closely with our customers to build long-term, lasting relationships.
Saudi Basic Industries Corporation (SABIC) ranks among the world’s top six petrochemical companies. The company is among the world’s market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
SABIC recorded a net profit of SR 9 billion (US$ 2.4 billion) in 2009. Sales revenues for 2009 totaled SR 103 billion (US$ 27 billion). Total assets stood at SR 297 billion (US$ 79.2 billion) at the end of 2009.
SABIC’s businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant research resources with six dedicated Technology & Innovation Centers in Saudi Arabia, Europe, the USA and India. The company operates in more than 40 countries across the world with 33,000 employees worldwide.
The company has 19 world-scale complexes in Saudi Arabia. Elsewhere, SABIC manufactures on a global scale in the Americas, Europe and Asia Pacific. SABIC’s overall production has increased from 35 million metric tons in 2001 to 59 million metric tons in 2009.
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 percent of SABIC shares with the remaining 30 percent held by private investors in Saudi Arabia and other Gulf Cooperation Council countries.