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SABICJuly/August 2008 Issue 87 SABIC InnovatIVE PlastICS WINS 2007 NAtional ENERGY gLOBE AWArD KINg ABDULLAH LAUNCHES Sr68BN PrOJECtS IN JUBAIL SABIC, SINOPEC sigN StrAtEgic cooperAtion Agreement CHArLIE CrEW: tHE NEW PrESIDENt & CEO OF SABIC INNOVAtIVE PLAStICS FOrEWOrD Greetings to all of our readers around the world and welcome to issue 87 of SAbIc magazine. We bring you news of several key appointments, including charlie crew who was promoted to president and cEO of SAbIc Innovative Plastics. We also have a detailed report on the globally implemented SAbIc Integration Program. The initiative is designed to streamline operations across the three Sharing our futures SAbIc businesses and to ensure they are all growing in the same direction. Further successes are SAbIc’s reported first quarter 2008 (1Q08) profits of 7 SABIC tO mArKEt Saudi ArAmco’S CHINESE 11 SABIC INNOVAtIVE PLAStICS At EUrO 2008 SR6.92 billion (US$1.85bn), compared with SR6.28 billion for the same period in 2007. joint VENtUrE PrODUCtS We bring you the details of a speech SAbIc’s Vice chairman and cEO, Mohamed Al-Mady, gave at the Financial Times china-Middle East Summit, held in Riyadh, in which he outlined the strategic partnership Saudi Arabia has with china. Additionally, at chinaplas 2008, SAbIc Innovative Plastics announced a 5-22 NEWS: The inside story with news, views multi-pronged strategy to meet its customer needs through an expansion of and comments general Supervisor: Mohamed H. Al-Mady local expertise and product fulfilment. Vice-chairman and cEO 23 COVEr StOrY: SAbIc Innovative Plastics In Europe, we have news of the SAbIc family of automotive businesses, from wins 2007 National Energy Globe SAbIc Innovative Plastics, SAbIc Europe, and Exatec, exhibiting together for the Editor-in-Chief: Othman M. Al-Humaidi first time – at the VDI conference in Mannheim, Germany. General Manager 24-25 SABIC APPOINtmENt: SAbIc Innovative We highlight SAbIc’s latest bottle grade resin, which combines improved corporate communications Plastics names new President and cEO organoleptics with increased environmental friendliness, allowing packaging firms to ensure that your pint of milk remains fresh and pure for as long as possible. managing Editor: Abdulaziz H. Al-Ageel 26-27 SABIC WOrLD: At chinaplas 2008, SAbIc On a lighter note, we also have a colorful feature on the barbeque, which is Manager Media & External Innovative Plastics announced a multi- synonymous with sunshine and good times around the world. Few cooking methods are shared in the same manner across the globe. We bring you a communications pronged strategy detailed report on how this pastime originated and spread to every corner contributions to SAbIc magazine are welcome and may be sent 28-29 SUCCESS StOrY: SAbIc’s latest bottle of the world. to: [email protected]. Articles and letters received may be grade resin allows packaging firms to Yet again we have a wonderful competition, with a beautiful leather briefcase edited for length and clarity. ensure that your pint of milk remains fresh up for grabs this month. As always, we hope you enjoy this issue and look forward Every effort has been made to report accurate information in and pure for as long as possible to any feedback you may have. this publication. However, neither SAbIc nor the publishers vouch for its accuracy, neither do they indemnify any loss arising 30-33 INtEgrAtION PrOgrAm SABIC: Global managing Editor through the use of the information. The views or opinions expressed herein do not necessarily reflect those of SAbIc or initiative unites SAbIc the publisher. 34-37 BEHIND tHE SCENES: For the first time, the Saudi Basic Industries Corporation PO Box 5101 SAbIc family of automotive businesses riyadh 11422, Saudi Arabia. exhibited together at the VDI conference in Mannheim, Germany SAbIc magazine is published on behalf of Saudi Basic Industries Corporation by: 38-41 SABIC CONFErENCES: Three hundred exhibitors from across the globe landed in Singapore in May for ASEANPLAS 42-45 LIFEStYLES: The barbeque is synonymous with sunshine and good times Project manager: Khaled Al-Masri Senior Editor: Michael Gordon Head of Design: Grigor Scott graphic Designer: Hussain Mohamed Al-bakri PO box 301292, Riyadh 11372, Tel: +966 (1) 462 3632, Email: gbcksa@G bc-me.com 30 SABIC INtEgrAtION PrOgrAm UNItES gLOBAL 38 SABIC DEmONStrAtES ItS plastICS Prowess © 2008 gray Business Communications BUSINESS UNItS in SINgAPOrE Reprinting in whole or in part is prohibited by law except with the prior written approval of the publisher. PrOJECtS SABIC NEWS S King launches Sr68bn projects in Jubail Shoura Council President visits SABIC The Shoura President tours the permanent SAbIc exhibition. Dr. Saleh bin Abdullah bin Humaid, President of the Shoura council visited custodian of the Two Holy Mosques “It is heading to become one of the billion. Prince Saud ibn Abdullah ibn the SAbIc headquarters in Riyadh King Abdullah launched 29 industrial largest economies in the world within Thenayan, chairman of the Royal recently, accompanied by a high-level and development projects worth more the next 10 years.” He said the commission for Jubail and Yanbu delegation of Shoura council members. than SR68 billion (US$18.16 bn) in growing private sector participation and SAbIc, said: “The farsighted He was received by Prince Saud Jubail last month. as well as the privatization of public vision of the King has enabled the bin Abdullah bin Thenayan Al-Saud, The new projects belonged to the corporations would strengthen the Jubail Industrial city to be the largest chairman of the Royal commission Royal commission for Jubail and Yanbu, Kingdom’s economy. engineering project of its kind in the for Jubail and Yanbu and chairman of SAbIc and the private sector. The SAbIc projects launched by the world. The Royal commission has a SAbIc, Mohamed Al-Mady, SAbIc Vice Prince Saud, Mohamed Al-Mady and other SAbIc executives with the Shoura Salman Muhammad Al-Jashi, a King included an expansion of National number of huge industrial complexes, President outside the SAbIc headquarters building. member of Alsharqia chamber’s board Industrial Gas company (SR1.31 the last of them being Saudi Kayan Prince Saud welcomed of Directors, said the government’s billion), an expansion of Saudi Petrochemical co. which consists of chairman and cEO, and other senior economy, improving the balance of support to the economic and service Methanol company (SR3.5 billion), 15 plants.” the Shoura council SAbIc officials. payments and providing materials and sectors would play a big role in Saudi Iron & Steel co. (SR3.77 billion), In his address, SAbIc Vice chairman President and his Prince Saud welcomed the President products for the national production attracting foreign direct investment to Jubail United Petrochemical company’s and cEO Mohamed Al-Mady said that companions and and his companions and commended sectors. the Kingdom, especially from the US Linear Alpha Olefins plant (SR1.2 SAbIc had its humble beginnings in the noble mission undertaken by the The Shoura council President and Europe. billion), and National Gas company’s a small apartment in Riyadh 30 years commended the noble Shoura council. He expressed hope toured the company’s permanent “This will result in achieving sustained expansion project (SR1.28 billion). ago, facing countless problems but mission undertaken by that the council’s communication and exhibition, which tells the story of the economic progress, creating more job This is King Abdullah’s second visit with boundless dreams, and has now cooperation will continue with SAbIc in transformation of Jubail and Yanbu opportunities for Saudis and improving to Jubail in two years. In 2006, he become the fifth largest petrochemical the council. He expressed the interest of Saudi Arabia. into two of the latest global industrial the condition of both Saudi individuals launched the second Jubail Industrial company in the world. hope that the council’s Prince Saud gave a speech addressing centers. The company’s permanent and companies,” he added. city (Jubail-II) and laid the foundation SAbIc has 20 industrial complexes in SAbIc’s development to date and its exhibition also sheds light on the Al-Jashi said the Saudi economy has for 22 mega industrial and development Jubail, Yanbu and Dammam in addition cooperation will continue strategic plans and future investments. different sectors of the company, its been making tremendous advancement projects in the city involving a total to its participation in three industrial with SAbIc in the interest He pointed out its increasing products and prospects offered to the in recent years. capital investment of nearly SR224 ventures in bahrain. of Saudi Arabia. contributions in supporting the national downstream industries. 4 SABIC July/August 2008 SABIC July/August 2008 5 SABIC NEWS S SABIC, Sinopec sign strategic SABIC to market Saudi Aramco’s cooperation agreement Chinese joint venture products Saudi basic Industries corporation (SAbIc) and china Petrochemical Sino Saudi Aramco company, a The signing ceremony was attended through this momentous step we corporation (Sinopec) signed in Jeddah wholly owned subsidiary of Saudi by Abdallah S. Jum’ah, Saudi Aramco are taking together with SAbIc.” on June 21 a strategic cooperation Aramco, signed a mutual cooperation President and cEO, and Mohamed Al- Jum’ah added: “In itself, this agreement to expand the scope agreement with SAbIc Shenzhen Mady, SAbIc Vice chairman and cEO, agreement constitutes, from the of partnership at Tianjin industrial Trading company, a SAbIc subsidiary in addition to a number of senior Kingdom’s perspective, an extra complex, china, currently under in the Peoples Republic of china. officials of both the companies. relative advantage for SAbIc, construction. Under the agreement, which Speaking about the agreement which grants it the right to market The agreement signed during the was signed at the Saudi Aramco Abdallah Jum’ah remarked: “Last polyolefins in support of Saudi visit of chinese Vice President Xi headquarters in Dhahran, SAbIc year, we celebrated with Sinopec, investments abroad.
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