Saudi Basic Industries Corporation (Sabic) unveiled its new brand with focus on creating long-term relationships that deliver profitable growth and success at the company's annual general assembly meeting in Riyadh Saturday. Sabic's new tagline, Chemistry that matters, represents Sabic's commitment toward partnering closely with customers, employees, suppliers, and the communities in which Sabic operates, powering mutual success and growth, a company statement said. “Chemistry that matters, unites and inspires us all by capturing the true essence of Sabic,” said Mohamed Al-Mady, Sabic vice-chairman and CEO. “Over the past 24 months, we've listened closely to what matters most to our stakeholders, and have co-created a solid new foundation and positioning for our brand and organization.” “We are investing in our brand long-term, and adding three key ingredients to our formula for success – a strong global call to action, a renewed emphasis on existing Sabic values that guide our behavior and delivery, and a new identity and visual system to boldly project our brand and our company worldwide.” Saturday's meeting also approved the distribution of SR15 billion dividends to Sabic shareholders for the year 2011. Sabic's total assets increased to SR333 billion compared to SR316 billion, net income to SR29.2 billion compared to SR21.5 billion, and shareholders' equities to SR138 billion compared to SR121 billion.
