SABIC net profits is SR12.9 billion in H1

July 20, 2014 - 6:33:31 pm

RIYADH: Saudi Basic Industries Corporation (SABIC) achieved net profits amounting to SR 12.9 billion in the first half of the fiscal year, 2014.

In a statement issued today, the Corporation said that dividends per share within 6 months amounted to SR 4.3 in comparison to SR 4.2 during the same period of the last year.

(SABIC) is the largest non-oil company in the Middle East and one of the world's 10 largest petrochemicals manufacturers. SABIC is composed of six strategic business units (SBUs). These are: Basic Chemicals, Intermediates, Polymers, Specialized Products, Fertilizers, and Metals. These six business units produce different kinds of products organized into four categories: Chemicals - Basic Chemicals, Intermediates and Specialized Products (three SBUs), Plastics - Polymers (one SBU), Fertilizers (one SBU), and Metals (one SBU). The Basic Chemicals unit products include methanol, ethylene, propylene, benzene, xylene, styrene, crude industrial ethanol, butadiene and butadiene-1. The Intermediates and Specialized Products units produce ethylene glycol, ethylene dichloride, and vinyl chloride monomer and dioctyl phthalate. The Plastics - Polymers unit provides polymeric materials and allied products. Its main products include polyester, melamine, and polypropylene, PVC, polystyrenes, polyethylene (PE), polypropylene (PP) and their by-products. The Fertilizers unit produces ammonia and urea, phosphate and liquid fertilizers. The Metals unit is a supplier of flat steel, long steel and aluminum products. SABIC owns sites and offices in Europe, Asia-Pacific and America.(QNA)