SABIC TO GROW
[BIZ: Geleen, November 7] Mr Litjens goes on to say that in 2015 SABIC intends to be among the world leaders in chemicals. Currently the total company’s revenues are EUR 60bn. This means that they have to grow by 50% in the coming years.
SABIC plans growth. In an interview with SABIC’s departing European boss, Boy Litjens, by Peter Bruijns, Mr Litjens notes that SABIC (the Saudi chemical company) is going to invest EUR 100–150m per annum in Chemelot in replacement and maintenance. They will be investing to keep the plant low-cost but will make no concessions on plant safety. At the research institute, they are looking at plastics with improved characteristics for automotive parts or pipes, and they are developing a new technology for their Naphtha Crackers. When new products lead to added value, this will mean additional investment in Geleen. In a few years, their Geleen revenues have grown from EUR 2bn to EUR 9bn, 30% of total SABIC revenues.
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