SABIC's Innovative Plastics business has opened a new global technology center focusing on Electronics and Electrical & Lighting Science and Technology in partnership with the prestigious Sungkyunkwan University (SKKU) in Suwon, South Korea. SKKU is home to some of the world's leading experts in technology innovation for electronics and electrical & lighting industries.
The cutting edge technologies coming from this center will be a key enabler of SABIC's strategy to continue helping its customers address their biggest challenges which include delivering solutions that are thinner, stronger, lighter and more efficient, with innovative designs and potentially reduced manufacturing costs. With several decades of being a highly regarded provider of material technology, application and design solutions for the electronics and electrical & lighting industries, SABIC's Innovative Plastics business has long contributed to the game-changing technologies - from providing materials for the first pocket-size mobile phone to the first TV backs made out of plastic.
"At the heart of SABIC's commitment to help make our customers successful lies our ongoing drive to possess a deep understanding of their industry and regional challenges and to translate those insights into materials innovation that uniquely address their needs," said Ernesto Occhiello, SABIC's Executive Vice President, Technology and Innovation. "SABIC's Electronics and Electrical & Lighting Science and Technology Center enables us to tap into some of the world's best and brightest technologists at SKKU to meet the rapidly changing requirements in these dynamic industries."
"This new investment further complements the company's continued support for its customers in these important industries, while reinforcing SABIC's commitment to investing in South Korea," said Thierry Materne, Technology Vice President, Innovative Plastics, at the March 25 ribbon-cutting ceremony in Suwon. "SABIC has a long history of deep materials expertise in these important industries and is honored to collaborate with SKKU in South Korea on disruptive technologies that will ultimately benefit consumers around the world."
Located in SKKU's Suwon campus, SABIC's Electronics and Electrical & Lighting Technology Center is expected to grow up to 50 + technologists based in SKKU and other locations around the globe signifying SABIC's commitment to meet the growing needs and trends across these industries. These teams will collaborate to create new applications that meet the growing needs for smarter design, enhanced functionality, and greater sustainability all to help manufacturers meet and exceed constantly evolving market and consumer demands.
"We are very pleased to have the SABIC Technology Center at Sungkyunkwan University (SKKU), which will nurture international collaboration and strengthen SKKU's global competitiveness," said Prof. Hyunsoo Kim, Executive Vice President, SKKU. This partnership will bring together SABIC's world-leading experts in materials and application innovation and SKKU's proven capabilities around research and business development that will help SABIC's customers maintain a competitive edge in their respective industries."
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Yaarob Al-Thenayan
Acting Vice President, Corporate Communications
About SABICSaudi 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 18 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 2014
