Saudi Basic Industries Corporation (SABIC Company)
Address: Riyadh, Saudi Arabia, 11422 P.O. Box 5101
Type: Public Corporation
Annual sales: The corporation annual revenue values at USD $40.5 billion.
Products: Chemicals and intermediates, Industrial polymer, fertilizer, and metals
Total Employees: The company a has a total of 30,993
Primary Line of Business: Chemical Company
Mission: The Company has a strong value of providing quality products and services arrived at through innovation, learning and operational excellence. The company recognizes the imperative of stakeholders; thus, strives to maintain maximum value of the company’s stakeholders.
Vision: The Company is devoteddevoted to delivering products that are tailored and cost effective to enable it become the preferred leader in chemical supplier in the world.
Values: Sabic company’s values are arched on the foundation of integrity where it intends to Inspire, Engage, Create, and Deliver the best in their operations.
Sabic Company has a board of directors comprising of nine members. The board is chaired by Prince Saud Bin Abdullah Bin Thenayan Al-Saud and the vice Chairman who is also the Chief Executive officer is Mohamed H Al-Mady.
The management team has a total of fourteen Executive Vice Presidents heading the different branches of production in the company. The different branches include chemicals, metals, fertilizers, performance chemicals, polymers, innovation plastics, manufacturing, corporate finance, corporate finance, technology and innovation, strategic planning, shared services, corporate HR, and corporate communications. Each of these sections is headed by a specific manager who report to the Chief Executive Officer, Mohamed H Al-Mady.
Sabic Company is one of the largest companies in Saudi Arabia. The company has braches extending to Europe and America continents. The company was established in September 1976 with the main intension of utilizing petroleum by products in to produce valuable commodities in the field of chemicals, fertilizers and polymers. The company has managed to successfully secure a stable market share in the business arena. Saudi Arabia government owns the largest share of in the company totaling up to 70%.
“Sabic is making responsible changes to its business vision to meet future sustainability challenges, CEO tells Doha Forum” December 04, 2012.
Samir Al-Abdrabbuh expressed concern for the need of the company to integrate changes that will see the company sustain and with stand the competitive and challenges witnessed in the contemporary production and marketing fields. The company has realized the need to enhance collaboration of stakeholders.
“Sabic sees technology and innovation as key to future success of Gulf petrochemical industry” November 28, 2012.
Advancement in technology and innovations has attracted the interest of Sabic Company in promoting the advancement in production. The need to improve and embrace technology will potentiate the company to offer innovative and advanced products design to their customers. According to Sabic CEO, this move will promote the companies relationship with the company.
“Sabic Release Inaugural Sustainability Report” November 24, 2012
The Sustainable + Performance is intended to be released annually for all stakeholder, customers and investors to evaluate the level of commitment of the company towards sustainable business practices. ….
The company products are synthesized from petroleum by products that forming a good avenue for preservation of the environment. The core products are markets all over the world in well-defined marketing channels.
Background and development
Since its first production and sale in 1981, the company has secure a strong market share for products such as ethylene, ethylene glycol, methanol, MTBE, polyethylene and engineering plastics and its derivatives. The company tops in the list of companies producing the above products. As per 2011 financial report the company’s profit was valued at US$ 7.8 billion. The company has total asset value of US$ 88.74 billion with an increased production from 2001 (35 million metric tons) to date of over 100 percent
The company operates in a total of over 40 countries in the world with 60 manufacturing and compounding plants spread over countries in Middle East, Asia, Europe, and America. The main headquarters is in Ryadh, Saudi Arabia and Sittard, Netherlands.
Safety and environment
The company has excelled in maintaining its standards in safety measures. In 2008, safety Health and Environmental Performance Index was valued at 0.74. The level of injuries in the company reduced from 8 in 2007 to 2 in 2008. It has also been honored with ample awards on measures in upholding safety and environmental care. Such awards include Responsible Care Award, the National Safety Council Award, and Royal Society for Prevention of Accidents among others.
The company has over 30993 employees in all branches worldwide.
The company has embraced ample technology and innovation in production where it produces a total of over 150 products every year. It has technological and innovation centers in Saudi Arabia, Europe, China, Japan, Korea and India.