NEWS

SABIC an­nounced that it is tak­ing steps to es­tab­lish strate­gic al­liances with six multi­na­tional sup­pli­ers – Siemens, ABB, El­liott Group, Yoko­gawa, Mitsubishi, and Emer­son

Refining & Petrochemicals Middle East - - CONTENTS -

Check out all the ma­jor ac­tions that took place re­gion­ally and glob­ally re­cently

The Mous set out the frame­work of co­op­er­a­tion be­tween the par­ties to en­able SABIC to seek joint op­por­tu­ni­ties and achieve top quar­tile per­for­mance in man­u­fac­tur­ing. The strate­gic pur­pose of these Mous are to sup­port Saudi 2030 vi­sion by stim­u­lat­ing the coun­try’s econ­omy and lo­cal con­tent, achieve in­dus­try-lead­ing per­for­mance, lever­age tech­nol­ogy in­no­va­tion, en­hance kno-wledge shar­ing and iden­ti­fi­ca­tion of lu­cra­tive op­por­tu­ni­ties with mar­ket-lead­ing or­gan­i­sa­tions.

On the sign­ing of these Mous, Yousef Al-benyan, vice chair­man and chief ex­ec­u­tive of­fi­cer, SABIC, com­mented: “To­day’s an­nounce­ment sig­nals a new phase in our re­la­tion­ship with six of the world’s most for­ward look­ing or­gan­i­sa­tions and sup­ports our ef­forts to be­come the world’s pre­ferred petro­chem­i­cal sup­plier.”

“At SABIC, we be­lieve in cre­at­ing smart op­por­tu­ni­ties and mean­ing­ful re­la­tion­ships with com­pa­nies which can help drive pos­i­tive sus­tain­able strate­gic change within our busi­ness and the wider com­mu­nity. Our fo­cus is on con­nect­ing and col­lab­o­rat­ing with or­gan­i­sa­tions to in­flu­ence the mega­trends that are trans­form­ing our world – this is Chem­istry that Mat­ters,” added Al-benyan.

In­no­va­tive re­la­tion­ships across mul­ti­ple sec­tors un­der­pin SABIC’S ver­sa­tile and long port­fo­lio of world-lead­ing prod­ucts and so­lu­tions. Its busi­ness strat­egy places em­pha­sis on fos­ter­ing high-value col­lab­o­ra­tions with mar­ket-lead­ing com­pa­nies that can help SABIC and the King­dom of Saudi Ara­bia to se­cure long-term growth op­por­tu­ni­ties.

Yousef Al-benyan (sit­ting, right), SABIC vice chair­man and CEO, and Mike Train (sit­ting, left), pres­i­dent of Emer­son Elec­tric, sign the MOU.

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