SABIC tackles Global Challenges, continues to play Key Role in Nation's Economy 2 Jubail, Saudi Arabia The company is to minimize its costs in different operations. It will also take measures to add more value to the quality of its products and services in order to enhance its competitive capabilities. This will ensure long-term mutual relations with local and overseas customers. "The annual STM event has enjoyed year on year success. Last year, SABIC made great achievements not only in production, marketing and profits, but also in the fields of safety and environment," SABIC Vice Chairman and CEO Mohamed Al-Mady said. For example, SABIC affiliates have achieved 93 million man-hours without any lost-time injury. This is a remarkable safety performance in the petrochemical industry. The globalization of SABIC R&T has generated numerous international patents for the company. The company has led the invention of several important process technologies and catalyst-related technologies and products. "I expect that SABIC will become the world's largest producer of Ethylene Glycol by 2006 with the acquisition of Scientific Design with a 50:50 partnership with Süd-Chemie of Germany, a world leader in Ethylene Glycol," he said. Ibrahim Al-Shuweir, chairman of the organizing committee, said there had been a rise in number of people participating in this year's meeting and more work papers would be submitted. The three-day seminar, which ends later today, deliberates on various issues related to research, technology and other operational and technical aspects.
