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29-511: It is ranked as number 9 among top 100 companies in the Saudi Arabian market and ranked as number 2 among the industrial sector after SABIC . Savola has recently listed its Oils and Fats division in the Saudi Stock market under the name Afia International. It was founded in 1979 as Saudi Vegetable Oils and Ghee Co., initially the company's business was importing and refining edible oil. Savola

58-463: A US$ 11.6 billion cash deal, including US$ 8.7 billion of its liabilities, and launched SABIC Innovative Plastics. In that year, the company ranked 145 (previous rank: 301) in the Forbes Global 2000 list. As of 2014, SABIC Innovative Plastics is a multibillion-dollar company with operations in more than 25 countries and over 9,500 employees worldwide. In July 2009, SABIC received approval from

87-515: A new entity named dsm-firmenich . DSM was formed by the Dutch state in 1902 to mine coal reserves in southern Limburg and although the company had diversified into commodity chemicals and petrochemicals by 1973, when the last mine closed, DSM retains a link to its origins by continuing to use the initials, originally an abbreviation for Dutch State Mines, to this day. During World War II researchers worked on penicillin . The code name Bacinol

116-610: A private transaction worth $ 69.1 billion. The transaction was completed in June 2020. Expansion operations and investments supposedly amounted to US$ 20 billion in 2007 and US$ 70 billion until 2020. The overall total production in 1985 was 6.3 million metric tons; by the end of 2008 it had reached 56 million metric tons. SABIC supposedly can produce over 135 million metric tons per year. Net profits of SABIC in 2008 touched ر.س  22 billion ( US$ 5.86 billion), while total assets stood at ر.س  272 billion ( US$ 72.5 billion) at

145-468: Is a stub . You can help Misplaced Pages by expanding it . This Saudi Arabia related article is a stub . You can help Misplaced Pages by expanding it . SABIC Saudi Basic Industries Corporation ( Arabic : الشركة السعودية للصناعات الأساسية ), known as SABIC ( Arabic : سابك ), is a Saudi chemical manufacturing company. 70% of SABIC's shares are owned by Saudi Aramco . It is active in petrochemicals, chemicals, industrial polymers and fertilizers. It

174-546: Is made up of DSM Engineering Materials, DSM Protective Materials and DSM Resins & Functional Materials. DSM Engineering Materials’ specialty plastics are used in components for the electrical and electronics , automotive , flexible food packaging and consumer goods industries. DSM Protective Materials is the inventor, manufacturer and marketer of Dyneema . DSM Resins & Functional Materials manufacture resins solutions for paints , inks , stereolithography , and industrial and optical fiber coatings. In addition to

203-499: Is the acronym for Dutch State Mines ), was a Dutch multinational corporation active in the fields of health, nutrition and materials. Headquartered in Maastricht , at the end of 2017 DSM employed 21,054 people in approximately 50 countries and posted net sales of €8.632 billion in 2018 and €9.204 billion in 2021. In May 2023 it merged with the Swiss company Firmenich to form

232-838: Is the kingdom's biggest food company by revenue. According to Al-Waleed bin Talal , "This group was established by me and some of my allies...I'd created what you could call the 'Nestlé of the Middle East' – the Savola Group, which is a very dominant force in its field." In 2009, Savola signed a deal with Alhokair Group to buy Geant supermarket outlets in Saudi Arabia. In October 2011, Savola bought 78% of Egypt's Al-Malika and Al-Farasha companies. In 2018, Savola acquired 51 percent stake of Dubai -based Al Kabeer Group. In 2022, Savola acquired Egybelg. This Asian corporation or company article

261-525: Is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul . In 2017, SABIC was ranked fourth in the world among chemical companies by Fortune Global 500 . By the end of 2018 SABIC was the world's 281st-largest corporation. In 2014, the company had sales revenues of $ 50.4 billion, profits of $ 6.7 billion and assets standing at $ 90.4 billion. It also has been recognized as

290-501: The 11th-largest petrochemicals company in the world. The purchase of DSM signified SABIC's intent to expand and become a true global company. In 2004, the value of SABIC shares, listed on the Saudi Stock Exchange (Tadawul), increased 170% while its net profits increased by 112% from 2003 to 2004. In 2005, SABIC was the Middle East's largest (in terms of market capitalization) and most profitable publicly listed non-oil company,

319-581: The 13th-largest company in the world in terms of market capitalization (at the beginning of 2005 it exceeded ر.س  375 billion, the equivalent of US$ 100 billion) and the second-largest by market value outside the US and UK. In June 2006, SABIC established the "SABIC Sukuk Company" to issue Islamic bonds ( Sukuk ) that are estimated to range between ر.س  1 billion ( US$ 266.67 million) and ر.س  3 billion ( US$ 800 million). In January 2007, SABIC Europe took over Huntsman Corporation plants in

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348-749: The Al-Jubail Industrial City on the coast of the Persian Gulf. Two are located in Yanbu Industrial City on the Red Sea and one is in the eastern city of Dammam . SABIC is also partners in three regional ventures based in Bahrain . SABIC is a market leader in key products such as ethylene, ethylene glycol, methanol, MTBE and polyethylene. SABIC underwent a business restructuring in October 2015, that saw

377-726: The Chemicals SBU. In July 2002, SABIC commenced operations in Europe after the $ 2 billion acquisition of the petrochemicals business of Dutch group DSM . SABIC Europe, SABIC's European subsidiary, produces over 2 million tonnes of polymers and over 5 million tonnes of basic chemicals. It employs over 3,000 people and has two major manufacturing locations in Geleen in the Netherlands and Gelsenkirchen in Germany. After forming SABIC Europe, SABIC became

406-572: The Chinese government to build a US$ 3 billion petrochemical complex in China, in order to gain a foothold in the world's fastest-growing chemicals market. In January 2018, SABIC announced that it had acquired a 24.99% stake in Clariant , the Swiss specialty chemical manufacturer. The stake was acquired from activist investor White Tale , and at Clariant's prevailing market-capitalisation would have been valued in

435-649: The UK. Headquartered in Sittard, Netherlands, SABIC Europe has a European wide network of sales offices and logistic hubs, as well as three petrochemical production sites in Europe: Geleen (Netherlands), Teesside (United Kingdom), and Gelsenkirchen (Germany). In 2008, SABIC Europe produced 7.3 million metric tons of petrochemicals, mainly for the European market. On May 21, 2007, SABIC acquired General Electric 's Plastics division, in

464-734: The absorption of the commodity chemicals produced under the Innovative Plastics SBU into the Chemicals and Polymers SBUs. Along with this, the Specialties SBU was created to house the remainder of the Innovative Plastics products that did not fall under the commodity umbrella and the Innovative Plastics SBU would cease to exist by January 1, 2016. This change follows the reallocation of the Performance Chemicals portfolio into

493-505: The business group directors reporting directly to the Managing Board. Since 2015, DSM's activities have been grouped into three clusters: Nutrition, Materials and Innovation Center. The Nutrition cluster is made up of DSM Nutritional Products and DSM Food Specialties. DSM Nutritional Products produces essential nutrients such as synthetic vitamins , carotenoids , human milk oligosaccharides , nutritional lipids and other ingredients for

522-514: The eco-efficiency of its operations. In November 2015, DSM set the following environmental reduction targets: Since 2010, the Short - and Long-Term incentive elements of the remuneration of DSM's Managing Board and executive bonuses relate to the company's financial and environmental performance in equal measure. Since 2004, DSM has been either the Materials industry group leader, (7 years) or among

551-418: The end of 2008 and the value of current assets at the end of 2008 stood at ر.س  95 billion ( US$ 25 billion). The Fortune 500 ranking set SABIC revenues as of $ 40.2 billion. SABIC reported preliminary consolidated financial results for the period ended September 30, 2010. Net income for the third quarter of 2010 was ر.س  5.33 billion, compared to net income of ر.س  3.65 billion in

580-509: The feed, food, pharmaceutical and personal care industries. DSM Food Specialties manufactures food enzymes , cultures , yeast extracts , savory flavors , hydrocolloids and other specialty ingredients for the dairy , baking , beverage and savory segments. DSM also manufacturers a novel cattle feed additive (Bovaer) to reduce methane production from dairy production. In 2021, DSM was ranked 6th on FoodTalks' list of Top 30 Global Probiotic Food Ingredient Companies. The Materials cluster

609-599: The region of $ 2.4bn. The actual transaction price was undisclosed. SABIC CEO Yousef Al-Benyan had previously stated, in November 2017, that the company was looking to spend $ 3bn-$ 10bn on acquisitions over the next 10 years. On March 27, 2019, SABIC announced that state-owned energy company Saudi Aramco signed a share purchase agreement to acquire a 70% majority stake in SABIC from the Public Investment Fund of Saudi Arabia in

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638-501: The role of supporting innovation in the businesses and DSM's venturing activities, the Innovation Center is responsible for the company's ‘Emerging Business Areas’; DSM Biomedical ( biomaterials and regenerative medical devices), DSM Bio-based Products & Services ( biomass -conversion technology) and DSM Advanced Solar ( AR-coatings and Photovoltaic -films for solar modules ). In November 2015, DSM announced that up to 2018 it

667-480: The same period the previous year, representing an increase of 46 percent and compared to ر.س  5.02 billion for the previous quarter, a rise of 6 percent. According to the 2019 Fortune Global 500 list, SABIC reported $ 45.1 billion in revenues and $ 5.7 billion in profits for the 2018-2019 FY , ranking it in fourth place among chemical companies and #252 in the list. DSM (company) Koninklijke DSM N.V. ( Royal DSM , commonly known as DSM , which

696-633: The small fishing villages of Jubail on the Persian Gulf and Yanbu on the Red Sea into modern industrial cities. Production in 1985 was 6.5 million tonnes; five years later production rose to 13 million tonnes and by 2003 production had risen to 42 million tonnes and by 2012 to over 60 million tonnes. SABIC employs more than 40,000 people globally and has 60 manufacturing and compounding plants in over 40 countries. SABIC's manufacturing network in Saudi Arabia consists of 18 affiliates. Most of these are based in

725-608: The world's 11th-largest petrochemical company, ranked 331 on the Fortune Global 500 for 2005, the second-largest producer of ethylene glycol and methanol in the world, the third-largest producer of polyethylene and overall the fourth-largest producer of polypropylene and polyolefin . Standard & Poor's and Fitch Ratings claimed SABIC to be the world's largest producer of polymers and the Persian Gulf region's largest steel producer for 2005; they assigned SABIC an "A" corporate credit rating . That same year, Bloomberg ranked SABIC as

754-526: The world's second most valuable brand in the chemicals industry by Brand Finance in 2021. SABIC was founded in 1976 by royal decree to convert oil by-products into useful chemicals, polymers, and fertilizers. The first chairman of the company was Ghazi Abdul Rahman Al Gosaibi , the Minister of Industry and Electricity, and the first CEO was Abdulaziz bin Abdullah Al Zamil . SABIC's founding transformed

783-516: Was based in the Netherlands; in 2017, this was 18%. In 2022, DSM and Swiss privately owned group Firmenich announced their intention to form a "merger of equals" to form a new group named "dsm-firmenich". DSM has stated that these partnerships have been created with a view to the company's ultimate exit from the businesses concerned. DSM has applied IFRS 11 to its associates and joint ventures since 2013. DSM's five business groups are clustered according to product and market combinations, with

812-545: Was targeting a high single-digit annual percentage increase in EBITDA and a high double-digit annual basis point increase in Return on capital employed (ROCE). It will focus on organic sales growth, reducing costs and strict capital allocation and does not expect to engage in large acquisitions in the near future. Within its corporate strategy the company also defines long-term sustainability aspirations, which include targets to improve

841-808: Was used to keep the research secret from the Germans . The research was done at the company Nederlandsche Gist- en Spiritusfabriek, Dutch Yeast and Spirits Factory, later becoming DSM Sinochem Pharmaceuticals, in Delft . In 1989, the government floated 70% of its shares in the company on the Amsterdam Stock Exchange (now Euronext Amsterdam) with the remaining 30% floated in 1996, thereby completing DSM's privatization. The 21st century has seen DSM follow successive five-year strategic periods of portfolio transformation and internationalization involving acquisitions, divestments and partnerships. In 2001, 48% of DSM's workforce

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