founded 1976 ; 40 years ago 1976 headquarters riyadh saudi arabia key people prince saud bin abdullah bin thenayan al saud chairman 2003 yousef al benyan acting chief executive officer 1 products chemicals and intermediates industrial polymers fertilizers and metals revenue 50.4 billion usd 2014 number of employees 40 000 2014 website www.sabic.com sabic saudi arabia basic industries corporation saudi diversified manufacturing company active in chemicals and intermediates industrial polymers fertilizers and metals . 2 it is the largest public company in saudi arabia as listed in tadawul but the saudi government still owns 70 % of its shares . sabic is also the largest listed company in the middle east . 3 private shareholders are from saudi arabia and other countries of the six nation gulf cooperation council gcc . sabic was the world s fourth largest chemical producer in 2013 . it is currently the second largest global ethylene glycol producer and is expected to top the list after the introduction of new projects . sabic is the third largest polyethylene manufacturer the fourth largest polyolefins manufacturer and the fourth largest polypropylene manufacturer . 4 sabic is also the world s largest producer of mtbe granular urea polycarbonate polyphenylene and polyether imide . in 2014 sabic was ranked fourth in the world among chemical companies by fortune global 500 5 and the world s 205th largest corporation . 6 in 2010 sabic grew to be the second largest diversified chemical company or first when measured only by asset value . measured over all its branches it became as of 2014 the world s 98th largest corporation on the forbes global 2000 ranking which lists only publicly traded companies with sales revenues of 50.4 billion profits of 6.7 billion and assets standing at 90.4 billion . 7 the company is based in riyadh and has interests in 17 affiliated companies which range from full ownership to significant partial participation . contents 1 history 2 operations 3 production and major expansions 4 fiscal performance 5 subsidiaries 6 products 7 see also 8 references 9 external links history edit european headquarters at sittard sabic was founded in 1976 by royal decree to convert oil by products into useful chemicals polymers and fertilizers . 8 the first chairman of the company was ghazi abdul rahman al gosaibi the minister of industry and electricity and the first ceo was abdul aziz bin abdullah al zamil . 8 sabic s founding transformed the small fishing villages of jubail on the persian gulf and yanbu on the red sea into modern industrial cities . production in 1985 was 6.5 million tons ; five years later production rose to 13 million tons and by 2003 production had risen to 42 million metric tons and by 2012 to over 60 million tons . sabic employs more than 40 000 people globally and has 60 manufacturing and compounding plants in over 40 countries . 9 sabic s manufacturing network in saudi arabia consists of 18 affiliates . most of these are based in the al jubail industrial city on the coast of the persian gulf . two are located in yanbu industrial city on the red sea and one is in the eastern city of dammam . sabic is also partners in three regional ventures based in bahrain . sabic is a market leader in key products such as ethylene ethylene glycol methanol mtbe and polyethylene . 4 sabic s wholly owned subsidiary the saudi iron and steel company hadeed based in al jubail is one of the world s biggest fully integrated producers . operations edit sabic innovative plastics facility in bergen op zoom sabic washington works plastics plant and technical centre in washington west virginia . sabic underwent a business restructuring in october 2015 that saw the absorption of the commodity chemicals produced under the innovative plastics sbu into the chemicals and polymers sbus . along with this the specialties sbu was created to house the remainder of the innovative plastics products that did not fall under the commodity umbrella and the innovative plastics sbu would cease to exist by january 1 2016 . 10 this change follows the reallocation of the performance chemicals portfolio into the chemicals sbu . the business units are currently chemicals polymers fertilizers sabic has three fertiliser affiliates safco samad and ibn al baytar 11 metals and specialties plus manufacturing . along with this change it was announced that the innovative plastics headquarters in pittsfield ma would be closed and the sabic regional headquarters for the americas would be relocated to houston tx . 12 in july 2002 sabic commenced operations in europe after the 1.98 billion acquisition of the petrochemicals business of dutch group dsm . sabic europe sabic s european subsidiary produces over 2 million metric tonnes of polymers and over 5 million metric tonnes of basic chemicals . it employs over 3 000 people and has two major manufacturing locations in geleen in the netherlands and gelsenkirchen in germany . 4 after forming sabic europe sabic became the 11th largest petrochemicals company in the world . the purchase of dsm signified sabic s intent to expand and become a true global company . in 2004 the value of sabic shares listed on the saudi stock exchange tadawul increased 170 % while its net profits increased by 112 % from 2003 to 2004 . 13 in 2005 sabic was the middle east s largest in terms of market capitalization and most profitable publicly listed non oil company the world s 11th largest petrochemical company ranked 331 on the fortune global 500 for 2005 the second largest producer of ethylene glycol and methanol in the world the third largest producer of polyethylene and overall the fourth largest producer of polypropylene and polyolefin . standard and poor s and fitch ratings claimed sabic to be the world s largest producer of polymers and the persian gulf region s largest steel producer for 2005 ; they assigned sabic an a corporate credit rating . that same year bloomberg ranked sabic as the 13th largest company in the world in terms of market capitalization at the beginning of 2005 it exceeded . 375 billion the equivalent of us 100 billion and the second largest by market value outside the us and uk . 13 in june 2006 sabic established the sabic sukuk company to issue islamic bonds sukuk that are estimated to range between . 1 billion us 266.67 million and . 3 billion us 800 million . in january 2007 sabic europe took over huntsman corporation plants in the uk . headquartered in sittard netherlands sabic europe has a european wide network of sales offices and logistic hubs as well as three petrochemical production sites in europe geleen netherlands teesside united kingdom and gelsenkirchen germany . 14 in 2008 sabic europe produced 7.3 million metric tons of petrochemicals mainly for the european market . on may 21 2007 sabic acquired general electric s plastics division in a us 11.6 billion cash deal including us 8.7 billion of its liabilities 15 and launched sabic innovative plastics . 16 one of their plants is located in bergen op zoom netherlands . in that year the company ranked 145 previous rank 301 in the forbes global 2000 list . 17 as of 2014 sabic innovative plastics 18 is a multibillion dollar company with operations in more than 25 countries and over 9 500 employees worldwide . 14 in july 2009 sabic received approval from the chinese government to build a us 3 billion petrochemical complex in china in order to gain a foothold in the world s fastest growing chemicals market . 19 production and major expansions edit expansion operations and investments are projected to amount to us 20 billion in 2007 and us 70 billion until 2020 . the overall total production in 1985 was 6.3 million metric tons ; by the end of 2008 it had reached 56 million metric tons . by 2020 sabic intends to produce over 135 million metric tons per year . 20 fiscal performance edit net profits of sabic in 2008 touched . 22 billion us 5.86 billion while total assets stood at . 272 billion us 72.5 billion at the end of 2008 and the value of current assets at the end of 2008 stood at . 95 billion us 25 billion . 21 the fortune 500 ranking set sabic revenues as of 40.2 billion . when sabic reported preliminary consolidated financial results for the period ended september 30 2010 . net income for the third quarter of 2010 was . 5.33 billion compared to net income of . 3.65 billion in the same period the previous year representing an increase of 46 percent and compared to . 5.02 billion for the previous quarter a rise of 6 percent . subsidiaries edit hadeed ibn sina ibn zahr sadaf gas petrokemya kemya ar razi al bayroni yanpet ibn rushd sharq ibn hayyan tayf safco jubail united yansab sabtank saudi kayan sabic europe sabic americas scientific design sabic innovative plastics formerly ge plastics products edit ethylene propylene butadiene butene 1 hexene 1 octene 1 decene 1 dodecene 1 c12 diodecene 1 c14 18 wax c20 cie crude industrial ethanol mtbe methyl tert butyl ether styrene monomer benzene paraxylene cbo carbon black oil caustic soda edc ethylene dichloride vcm vinyl chloride monomer phenol acetone bisphenol a fertilizers steel methanol lexan polycarbonate noryl ppo cycolac acrylonitrile butadiene styrene cycoloy polycarbonate acrylonitrile butadiene styrene blend ultem polyetherimide extem polyimide geloy acrylonitrile styrene acrylate acrylonitrile butadiene styrene blend valox polybutylene terephthalate verton long fiberglass reinforced polymers xenoy polycarbonate polybutylene terephthalate blend xylex polyester polycarbonate blend eo eg ethylene oxide ethylene glycol carbon black epdm rubber halobutyl polybutadiene rubber see also edit list of saudi arabian companies saudi aramco sabic japan references edit tadawul sabic board announcement on appointing acting ceo saudi basic industries corp sabic saudi arabia stock quote & company profile businessweek . investing.businessweek.com . retrieved 14 august 2012 . forbes global 2000 leading companies forbes middle east a b c sabic.com 1 process worldwide 2 fortune global 500 3 forbes global 2000 a b hertog steffen 2008 . petromin the slow death of statist oil development in saudi arabia pdf . business history . 50 5 645 667 . doi 10.1080 00076790802246087 . retrieved 16 september 2013 . arabnews.com sabic announces global operational transformation to better meet customer needs news news & media sabic . www.sabic.com . retrieved 2015 10 08 . http www.chemicals technology.com projects safco sabic dissolving innovative plastics unit leaving pittsfield mass . hq plastics news . www.plasticsnews.com . retrieved 2015 10 08 . a b zawya.com a b sabic.com the new york times 22 may 2007 sabic.com forbes global 2000 2008 sabic ip.com karam souhail 2011 . saudi sabic says china govt approved sinopec jv reuters . uk.reuters.com . retrieved 19 august 2011 . sabic.com sabic.com external links edit wikimedia commons has media related to sabic . official website sabic innovative plastics retrieved from https en.wikipedia.org w index.php title sabic & oldid 738033788 categories 1976 establishments in saudi arabiacompanies established in 1976companies listed on tadawulplastics companiesgovernment owned companies of saudi arabiachemical companiespetrochemical companiessaudi arabian brandshidden categories pages using infobox company with unsupported parametersvague or ambiguous time from january 2014commons category with local link same as on wikidata navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version in other projects wikimedia commons languages deutsch fran aisbahasa indonesiamagyarnederlandsportugu srom n t rk eti ng vi tze uws edit links this page was last modified on 6 september 2016 at 14 53 . text is available under the creative commons attribution sharealike license ; 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