Sabic announced it is undertaking a global transformation aimed at creating a more agile, cost-efficient, and customer-focused organisation that meets their needs more effectively, reported Trade Arabia.
The company’s new organizational structure is expected to be in place by January 1, 2016, part of Sabic’s 2025 strategy.
“To meet these challenges, the company is optimising its existing portfolio while at the same time investing in the innovations that are required for future growth,” the company said in a statement, adding that commodity products of the Innovative Plastics Strategic Business Unit (SBU) will now be housed in the Chemicals and Polymers SBUs.
In other news, SABIC and South Korean petrochemical company SK Global Chemical inaugurated a new industrial plant to manufacture a range of high-performance polyethylene products using the cutting-edge Nexlene Solution Technology.
“This magnificent new industrial facility will enhance the petrochemical industries through innovating world unique solutions utilizing Nexlene technology,” Arab News quoted SABIC Chairman Prince Saud bin Abdullah bin Thenayan Al-Saud as saying.
The 50-50 joint venture holding company, SABIC SK Nexlene Company (SSNC) was established last July and is headquartered in Singapore.