Riyadh, May 16, 2012

Taking the opportunity to discuss business challenges and share insights with peers from around the globe, Mohamed Al-Mady, vice chairman and CEO of the Saudi Basic Industries Corporation (SABIC), joined 100 of the world's most influential business leaders at the 16th annual Microsoft CEO Summit in Seattle, on May 16.

Al-Mady's interactions with fellow CEOs helped to build professional and personal relations and deeper understandings of evolving needs in various industries including those to which SABIC provides its innovative chemicals and plastics materials solutions.

"When we connect with our peers, we understand the worldview on key issues related to technology and business and it helps us further develop our collaborations," said Mohamed Al-Mady, SABIC Vice Chairman and CEO. "It is in this context that the Microsoft CEO Summit provides global business leaders an opportunity to develop closer relationships and global insights to our toughest challenges through candid dialogue. This is consistent with SABIC's strategy of building strong and enduring partnerships across borders."

The Microsoft CEO Summit was established in 1997 in response to growing interest in the convergence of technology and business issues among corporate CEOs. Attendees have an opportunity to hear leading industry experts analyze economic trends and technology issues. According to Microsoft, the event has evolved into a world-class forum for business leaders to debate technology and innovation in the face of pressing global business issues.  

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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 29.24 billion (US$ 7.80  billion) in 2011. Sales revenues for 2011 totaled SR 189.90 billion (US$ 50.64 billion). Total assets stood at SR 332.78 billion (US$ 88.74 billion) at the end of 2011.

SABIC's businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant research resources with 17 dedicated Technology & Innovation facilities in Saudi Arabia,  the USA, the Netherlands, Spain, Japan, India and South Korea. The company operates in more than 40 countries across the world with  more than 33,000 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.

For more information, contact:
Samir Al-Abdrabbuh
Vice President, Corporate Communications

© Press Release 2012