SABIC


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AcronymDefinition
SABICSaudi Arabian Basic Industries Corporation (aka Saudi Basic Industries Corporation)
SABICSaskatchewan Agricultural Biotechnology Information Centre (Canada)
SABICSample-Band Image Coding (currency counterfeit deterrence technique)
References in periodicals archive ?
Some analysts have said that Sabic, which owns a 25 per cent stake in Clariant, could consider taking over the company after the Swiss firm last month saw its chief executive quit, announced a loss for the first half of the year and shelved its joint venture plans with Sabic.
Following the signing of a Memorandum of Understanding between SABIC and Clariant AG to explore the possible merger of SABIC's Specialties business with Clariant AG, both companies have now reached a common understanding to temporarily defer these discussions due to current unfavourable market conditions.
The agreement concerns the Saudi Methanol Company (Ar-Razi), a joint venture (JV) between the two companies, in which SABIC controls a 75% stake, and JSMC owns 25%.
Following the signing of a Memorandum of Understanding between SABIC and Clariant AG to explore the possible merger of SABICs Specialties business with Clariant AG, both companies have now reached a common understanding to temporarily defer these discussions due to current unfavourable market conditions.
"Sabic looks forward to continuing these discussions once conditions have improved as we remain committed to our strategic growth ambitions in the area of specialties," Sabic said in a statement on its website.
After earning a bachelor's degree in economics and a master's degree in industrial management, Al-Benyan joined SABIC in 1987 as a business development specialist before joining SABIC's corporate communications division.
Under the agreement, according to a filing on Tadawul, Sabic will raise its stake in Arrazi to 75% by buying half of JSMC's share in the company - which makes up 25% of all Arrazi shares - for $150m (SAR562.7m).
Sabic, a global leader in the chemical industry, has reaffirmed, through a multi-faceted exhibition at Formnext 2018, its determination to further the evolution of additive manufacturing technology and promote application innovation.
* In Singapore, where it currently has compounding operations, SABIC plans to make Ultem resin, slated for Startup in the first half of 2021.
Yousef Al-Benyan, SABIC's vice chairman and CEO, said, "This acquisition is part of SABIC's long-term growth strategy to remain committed to product differentiation and creating value for its customers.
The acquisition of this approximately 24.9% stake in Clariant will make SABIC the largest Clariant shareholder.
Innovative Plastics VP Gregory Adams in Sep 2011 said: "Through Inpro, SABIC can participate and add value in the early stages of innovation with world-class producers, who continue to develop and create new vehicles and processes that meet the interests of auto-makers and consumers around the world".