The Saudi Basic Industries Corporation (SABIC) and Fraunhofer-Gesellschaft, a leading German organization for applied research, signed last Friday a multiyear agreement in Sittard, the Netherlands to mutually develop advanced technologies into innovative solutions, meeting global needs and demands in societal areas such as light weight construction and renewable energy. The agreement was signed by Dr. Ernesto Occhiello, SABIC Executive Vice President, Technology and Innovation, and Prof Ulrich Buller, Senior Vice President Research Planning, Fraunhofer-Gesellschaft, according to a press release issued by the Corporation yesterday. The strategic agreement between the two companies comprises various research areas. --MORE