SABIC To Exit Pittsfield, MA Site
In a move that reiterates its 28-year commitment to the Americas region, global petrochemicals leader SABIC today announced that it has named the Greater Houston, TX area as its regional headquarters for all of its Americas-based business. Naming the Houston area as the regional hub was a natural next step given that it is in the heart of the U.S. petrochemical industry and has been a core SABIC location for the last 25 years.
“Today’s announcement signals the importance of the Americas to SABIC’s future growth,” said Yousef Al-Benyan, SABIC Vice Chairman and CEO (Acting). “As we continue to consider investment opportunities in the region, we are building a strong hub that will support our growing business presence. This Greater Houston-area team will play a key role in enabling SABIC to more effectively serve customers in the North and South American markets.”
In building this regional headquarters, several Americas functional teams will be led from the Houston area, including a number of roles that are currently based in Pittsfield, MA. With the relocation of roles, SABIC will consolidate operations and exit its Pittsfield office in 2016. SABIC expects to complete the majority of role relocations by midyear, subject to ensuring an orderly transition and maintaining capability and business continuity. The Company is also evaluating Pittsfield’s Polymer Processing Development Center (PPDC) and its location.
“Exiting the Pittsfield site was a logical yet very difficult business decision knowing the important role our business and people have played in this community over the years,” added Al-Benyan. “As SABIC continues to expand in the Americas, we need many of the talented Pittsfield employees to be part of our strong regional team. We are committed to a smooth transition for our people and look forward to welcoming many of them to our Greater Houston area office.”
SABIC has three locations in the Greater Houston area: City West, Sugarland and Sugar Creek.
NOTES TO EDITORS
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Saudi Basic Industries Corporation (SABIC) ranks as the world’s third largest diversified chemical company. The company is among the world’s market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and agri-nutrients.
SABIC recorded a net profit of SR 23.3 billion (US$ 6.2 billion) in 2014. Sales revenues for 2014 totaled SR 188.1 billion (US$ 50.2 billion). Total assets stood at SR 340 billion (US$ 90.7 billion) at the end of 2014.
SABIC’s businesses are grouped into Chemicals, Polymers, Agri-Nutrients, Metals and Innovative Plastics. It has significant research resources with innovation hubs in five key geographies – USA, Europe, Middle East, South East Asia and North East Asia. The company operates in more than 50 countries across the world with around 40,000 employees worldwide.
SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia Pacific.
Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70 percent of SABIC shares with the remaining 30 percent publicly traded on the Saudi stock exchange.
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