Saudi Basic Industries Corporation Invests in Young Scientists According to BAC Report03 May 2013 • by Natalie Aster
LONDON – In April Saudi Basic Industries Corporation (SABIC) granted five donations to five most promising assistant professors at the King Abdullah University of Science and Technology (KAUST) in Thuwal (Saudi Arabia). The funding will cover three years of research and help in studying of such varied subjects as carbon dioxide valorization, solar energy storing, and membrane materials.
2012 was a slow year for SABIC. Revenue went down by 0.5% to SAR 189 B, gross profit lost 12.6% and amounted SAR 54.3 B, operating income declined by 11.4% to SAR 43.2 B, net income comprised SAR 24.87 B which is a 15.3% decrease. The first quarter of 2013, however, started positively: company’s net profit margin improved. Revenue amounted to SAR 46.7 B, gross profit equaled SAR 14 B, operating and net income scored SAR 11.5 B and SAR 6.56 B, respectively.
Founded in 1976 and headquartered in Riyadh (Saudi Arabia), SABIC engages in petrochemical manufacturing and distribution. Its product portfolio can be divided into four groups: chemicals (including performance chemicals), plastics (including innovative plastics), fertilizers and metals. The company runs regional headquarters in all parts of the world, employing over 40000 people worldwide. Owning more than 8000 patents and developing about 150 new products every year, SABIC is considered to be one of the world’s largest petrochemical companies.
Full insight into company’s activities, products, subsidiaries, strong and weak points, opportunities and threats, can be found in the report “Saudi Basic Industries Corporation Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” worked out by Business Analytic Center (BAC) and recently published by Market Publishers Ltd.
Saudi Basic Industries Corporation Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Apr, 2013
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