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SABIC to sponsor chemistry conference, commits to invest in research and development to enhance company's competitiveness

The Saudi Basic Industries Corporation ( SABIC ) has announced its participation in the Fourth International Chemistry Conference in Riyadh from November 19 to 21 as the Diamond sponsor. The Saudi Chemical Society and the Department of Chemistry, King Saud University, are organizing the event to mark the UN-proclaimed International Year of Chemistry 2011 being observed worldwide to highlight the achievements of chemistry and its contributions to the well-being of humankind.

The conference will discuss several important topics, including analytical chemistry, environment chemistry, green chemistry, physical chemistry, electrochemistry, organic chemistry, chemistry of natural products, nanotechnology, renewable energy, water research, and industrial chemistry.

Mohamed Al-Mady, SABIC Vice Chairman and CEO said, " SABIC 's sponsorship of this significant conference reflects the company's commitment to Corporate Social Responsibility and its strong support to scientific societies, universities and research centers in Saudi Arabia."

Al-Mady noted that investment in research and development is an essential element for the success of the petrochemical industry, and is key to it remaining innovative and competitive. SABIC , as an important driver of the economic development in Saudi Arabia and as one of the world's largest petrochemical companies, has sought to build a strong technology and innovation network throughout its illustrious history.

SABIC has keen interest in chemistry due to the nature of its business. Al-Mady said that SABIC appreciates the international efforts to observe 2011 as the International Year of Chemistry. SABIC has vast experience in technology and innovation dating back to the eighties when SABIC began building its research and development network. Such conferences are important as they provide a platform for exchanging ideas in the field of chemistry and highlighting its correlation to the petrochemical industry.

The UN has entrusted UNESCO, in cooperation with the International Union of Pure and Applied Chemistry, to set off the International Year of Chemistry celebrations around the world.

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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 21 billion (US$ 5.6 billion) in 2010. Sales revenues for 2010 totaled SR 152 billion (US$ 40.5 billion). Total assets stood at SR 317 billion (US$ 84.5 billion) at the end of 2010.

SABIC 's businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant research resources with 18 dedicated Technology & Innovation facilities in Saudi Arabia, the USA, the Netherlands, Spain, Japan, India and China. The company operates in more than 40 countries across the world with 33,000 employees worldwide.

SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia Pacific. SABIC 's overall production has increased from 35 million metric tons in 2001 to 67 million metric tons in 2010.

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.

Dr. Abdullah Al-Fawaz
Acting Vice President,
Corporate Communications

© Press Release 2011