What does SABIC mean in Companies & Firms?

SABIC

SABIC is a Saudi diversified manufacturing company, active in petrochemicals, chemicals, industrial polymers, fertilizers, and metals. It is the largest public company in the Middle East and Saudi Arabia as listed in Tadawul. 70% of SABIC's shares are owned by Saudi Aramco. Private shareholders are from Saudi Arabia and other countries of the six-nation Gulf Cooperation Council (GCC). SABIC was the world's fourth-largest chemical producer in 2013. It is currently the second-largest global ethylene glycol producer and is expected to top the list after the introduction of new projects. SABIC is the third-largest polyethylene manufacturer, the fourth-largest polyolefins manufacturer, and the fourth-largest polypropylene manufacturer. SABIC is also the world's largest producer of methyl tert-butyl ether, granular urea, polycarbonate, polyphenylene and polyether imide. In 2014, SABIC was ranked fourth in the world among chemical companies by Fortune Global 500, and the world's 205th-largest corporation. In 2010, SABIC grew to be the second-largest diversified chemical company, or first when measured only by asset value. Measured over all its branches, it became (as of 2014) the world's 98th-largest corporation on the Forbes Global 2000 ranking (which lists only publicly traded companies), with sales revenues of $50.4 billion, profits of $6.7 billion and assets standing at $90.4 billion.The company is based in Riyadh and has interests in 17 affiliated companies, which range from full ownership to significant partial participation.

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