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