Saud praised the proactive interaction of SABIC's shareholders on corporate development objectives and leadership ambitions. He pointed out that the company's increasing success is the result of integrated and combined efforts of the board, executive management, employees, shareholders, customers and suppliers. "Such efforts enable SABIC to strongly face the challenges arising of the global economic crisis," he was quoted as saying in a press release issued by SABIC. The Prince said that SABIC continues development of revenues and returns of operations with an average growth of profits in the last five years of 34 percent, average sales growth of 28 percent and average growth of assets of 21 percent. Assets increased to SR 272 billion by end of 2008. This confirms the strength of the company's financial position and its ability to fulfill its obligations. SABIC has succeeded in maintaining a strong credit rating whilst many large competitors have been forced to restructure operations, close down some production units and demobilize considerable human resources. --MORE
