Middle East Economic Survey

VOL. L

No 36

10-September-2007

SAUDI ARABIA

SABIC Completes $11.6Bn Purchase of GE Plastics

Saudi Basic Industries Corporation (SABIC) announced on 31 August it had completed its $11.6bn purchase of GE Plastics from General Electric. The former GE unit has been named SABIC Innovative Plastics, and will focus on providing thermoplastics and engineering plastics to the automotive, electronics, healthcare, and construction sectors. Brian Gladden, formerly head of GE...