In January 2007, SABIC Europe took over Huntsman Corporation plants in the UK. SABIC Saudi Basic Industries Target Market Consumer good manufactures, Fertilizer manufacturing sector, Automotive, Electronics, Construction, Health care sector and Aircraft manufacturers. By 2020, SABIC intends to produce over 135 million metric tons per year. 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 ر.س 375 billion, the equivalent of US$100 billion) and the second-largest by market value outside the US and UK.[13]. Along with this change it was announced that the Innovative Plastics headquarters in Pittsfield, United States, would be closed, and the SABIC Regional Headquarters for the Americas would be relocated to Houston.[11]. It is currently the second-largest global ethylene glycol producer and is expected to top the list after the introduction of new projects. 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. [23] The Fortune 500 ranking set SABIC revenues as of $40.2 billion.[when? The company is based in Riyadh and has interests in 17 affiliated companies, which range from full ownership to significant partial participation. Sales revenues for 2018 totaled US$ 45 billion while total assets stood at US$ 85 billion. [24], List of largest companies in Saudi Arabia, "SAUDI BASIC INDUSTRIES CORP (SABIC:Saudi Arabia): Stock Quote & Company Profile - Businessweek", "Petromin: the slow death of statist oil development in Saudi Arabia", "SABIC announces global operational transformation to better meet customer needs | News | News & Media | SABIC", http://www.chemicals-technology.com/projects/safco/, "Sabic dissolving Innovative Plastics unit, leaving Pittsfield, Mass., HQ | Plastics News", "Saudi Chemical Maker in Dutch Acquisition", "Saudi SABIC says China govt approved Sinopec JV | Reuters", "Saudi Aramco Agrees to Buy 70% Stake in SABIC from Kingdom's Public Investment Fund | SUSTG.com – News, Analysis, and Features on all things Saudi Arabia", "Saudi Aramco extends payment plan as it closes $69bn Sabic deal", https://fortune.com/global500/2019/sabic/, "SABIC to lift steel capacity to 10 million tons by 2025", "IBN SINA signs engineering plastic project contract", https://en.wikipedia.org/w/index.php?title=SABIC&oldid=1000740078, Creative Commons Attribution-ShareAlike License, Saudi-European Petrochemical Company (Ibn Zahr), Arabian Industrial Fibers Company (Ibn Rushd), Jubail United Petrochemical Company (United), Verton (long fiberglass-reinforced polymers), This page was last edited on 16 January 2021, at 13:42. [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. SABIC is headquartered in Riyadh, Saudi Arabia and has 88 office locations across 39 countries. Based on 4 salaries posted anonymously by SABIC Mechanical Engineer employees in Saudi Arabia. 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