Dubai, United Arab Emirates; October 4 2015 - Panasonic Marketing Middle East & Africa has joined SABIC's unique Home of InnovationTM growth initiative that combines marketing, innovation and technology to create demand and grow business on a local, regional and global level. The initiative, which connects SABIC with industry-leading companies like Panasonic, helps to identify market needs and develop innovative solutions.

Panasonic is one of the 40 global, regional and local manufacturing companies that SABIC is entering into a strategic marketing relationship to promote the introduction of industry-leading technology into Saudi Arabia and the Middle East region.

"We look forward to collaborating with these companies to seek cost-effective, high-performance solutions that meet customer needs and increase demand for the design, manufacturing and purchase of new products in the Kingdom," said Awadh Al-Maker, Executive Vice President, Technology and Innovation, SABIC.

As part of the initiative, SABIC's Home of Innovation facility in Riyadh's Techno Valley will be a place for inspiration and collaboration with a Demonstration Home on modern, comfortable and sustainable living and a Collaboration Center for visitors to discuss global challenges and seek partnership opportunities, or explore innovative products and materials among several key markets.

According to Tatsuya Kumazawa, Director, Eco Solutions Category, Panasonic Marketing Middle East & Africa, "Innovation to promote sustainable living concepts is at the very essence of our business so SABIC's Home of Innovation initiative resonates with us and we are proud to be part of it. As the Kingdom of Saudi Arabia and other Middle Eastern countries increasingly commit to sustainable policies in various industry sectors like construction and energy, we are able to support these industries with our innovative, energy saving and environment friendly solutions for B2B and B2C sectors."

Panasonic's line up of unique sustainable solutions include LED lighting, refrigerators and air purifiers  with ECO NAVI solution to conserve energy, intelligent LCD TV screens and cooking appliances with sensor technology to save energy. Globally, Panasonic leads the way in smart townships with its much acclaimed Fujisawa Sustainable Smart City, a smart town with 1,000 households where actual lifestyle-based innovative systems will continue to bring energy in every aspect of people's lives in terms of energy, security, mobility, healthcare, community and also in emergencies.

"SABIC is committed to enabling downstream industry development in the Kingdom and region, and Home of Innovation provides a unique platform to engage the local market," said Tymon Moore, marketing director, Middle East & Africa at SABIC. "We look forward to exploring long-term, mutual growth opportunities to help advance the local and regional economy."

Through the initiative, SABIC engaged companies that demonstrated an interest in growing their business in the Kingdom and Middle East region. Additional qualities included a respected and recognized brand, a desire to engage with SABIC strategically, and innovative yet commercially-available systems or products.

Participating companies self-selected among three engagement levels - Leadership, Performance and Program - which afford varying degrees of regional exposure, business opportunities, industry connections and market insight. Panasonic was selected under the Programme level

Representing the Middle East, Europe, Asia and Americas, participating companies illustrate the global, regional and local representation sought by the Home of Innovation™ initiative. Additional participation agreements are expected through June 2015.

About Home of Innovation
Home of Innovation™, a SABIC growth initiative, combines marketing, innovation and technology to create demand and promote downstream industry development. It offers a platform to showcase global innovation while identifying and developing new market opportunities and solutions. It inspires the regional business community by facilitating collaboration among industry-leading companies and showcasing what could be manufactured locally. It brings together the best minds and organizations interested in the future of the Middle East region and acts as a catalyst to transform ideas to industry. For more information, go to homeofinnovation.sabic.com.

About Panasonic
Panasonic Corporation is a worldwide leader in the development and engineering of electronic technologies and solutions for customers in residential, non-residential, mobility and personal applications. Since its founding in 1918, the company has expanded globally and now operates around 500 consolidated companies worldwide, recording consolidated net sales of 7.74 trillion yen for the year ended March 31, 2014. Committed to pursuing new value through innovation across divisional lines, the company strives to create a better life and a better world for its customers. For more information about Panasonic, please visit the company's website at www.panasonic.com

About Panasonic Marketing Middle East and Africa FZE (PMMAF)
Panasonic Marketing Middle East and Africa FZE (PMMAF) is the regional Headquarters, all functions related to Sales and Marketing, Supply chain and Customer service solutions, and Advertising functions under the brand name Panasonic is handled by PMMAF. The vision at PMMAF is to be the No 1 Customer-centric Company and No 1 Customer-preferred brand in the Middle East and Africa region.

PMMAF website: www.panasonic.com 

Issued by Panasonic Marketing Middle East and Africa (PMMAF).  

For media queries, please contact: Lisa George/Merina Fathima, Iris PR, Dubai, UAE. Tel: +97144341207, Fax: +97144341163. E-mail: Lisa@irispr.net/ merina@irispr.net.

Anthony Peter, Director
Corporate Communications & Operations Division, Panasonic Marketing Middle East and Africa
00971 4 8862142/ anthony@ae.panasonic.com

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ABOUT SABIC
Saudi Basic Industries Corporation (SABIC) ranks among the world's top petrochemical companies. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.

SABIC recorded a net profit of SR 25.3 billion (US$ 6.7 billion) in 2013. Sales revenues for 2013 totaled SR 189 billion (US$ 50.4 billion). Total assets stood at SR 339.1 billion (US$ 90.4 billion) at the end of 2013.

SABIC's businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant research resources with 19 dedicated Technology & Innovation facilities in Saudi Arabia, the USA, the Netherlands, Spain, Japan, India, China and South Korea. The company operates in more than 40 countries across the world with around 40,000 employees worldwide.

SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia Pacific.

Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70 percent of SABIC shares with the remaining 30 percent held by private investors in Saudi Arabia and other Gulf Cooperation Council countries.

© Press Release 2015