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 is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul .
41-413: 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 the world's second most valuable brand in the chemicals industry by Brand Finance in 2021. SABIC
82-465: 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
123-473: A broad range of pigments and additives that add performance and color to many everyday items. Venator is a global company with more than 4,300 employees across 27 facilities in more than 10 countries. On May 14, 2023, Venator filed for Chapter 11 bankruptcy . In June 2007, it was announced that Huntsman had agreed to be acquired by Access Industries , owned by the billionaire Len Blavatnik , for $ 5.88 billion in cash. Huntsman shareholders would receive $ 25.25
164-476: A city limit. Since 2001, there has been significant change in the geographical distribution of the companies in the Global 500 rankings. Most of this growth is accounted for by a rapid increase in the number of Chinese Global 500 companies, of which there were 135 by 2021, increasing from only 10 in 2001. The share of European -based companies also declined, from 158 to 143, over the same period. The following
205-611: 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
246-523: A share from Access Industries' chemical unit, Basell Holdings, based in Hoofddorp, Netherlands . Access would assume $ 3.7bn of Huntsman debt. However, on July 12, 2007, the agreement was terminated as Huntsman agreed to be bought by Apollo Global Management for $ 6.51bn. Huntsman filed a suit in Texas against Apollo and two partners, co-founders Leon Black and Josh Harris , after the group backed out of
287-594: A stake in the company in 2021. The hedge fund owned more than 8% of Huntsman, roughly $ 500 million worth. Starboard did not succeed in gaining seats on the company's board, one of its goals, and decided to completely exit their position within Huntsman. Advanced Materials supplies synthetic and formulated polymer systems. Huntsman’s epoxy, acrylic and polyurethane-based polymer products are used to replace traditional materials in aircraft, automobiles and electrical power transmission. Epoxy-based adhesives are also sold in
328-691: A truly global list of top industrial corporations as ranked by sales. Since 1995, the list has had its current form, listing also top financial corporations and service providers by revenue. Several inconsistencies exist in Fortune 's ranking of cities with the most Fortune 500 headquarters. On June 3, 2011, the Atlanta Business Chronicle stated examples of Fortune including regional headquarters for some cities, excluding regional headquarters for other cities and in some cases excluding headquarters that are physically located inside
369-467: Is an annual ranking of the top 500 corporations worldwide as measured by revenue . The list is compiled and published annually by Fortune magazine. Until 1989, it listed only non– United States industrial corporations under the title "International 500" while the Fortune 500 contained and still contains exclusively United States corporations. In 1990, United States companies were added to compile
410-549: Is the list of Top 10 companies in 2023: These are the Top 10 countries/territories with the highest revenues from the Top 500 companies as of August 2023: As of August 2023 , 28 (6%) of the Fortune Global 500 companies are located outside East Asia , North America , and Europe : The following are the top-ranked companies in 2023 for each sector: The following is the list of Top 10 companies in 2022: These are
451-422: Is the list of Top 10 companies: Fortune had previously listed Shell as a British/Dutch company, but as of the 2016 listing it is listed as Dutch. As of November 2017 , this is the list of the Top 10 countries with the most Global 500 companies: The Global 500 includes Unilever under the heading "Britain/Netherlands", as the company is counted in the tally for both countries. As can be seen from
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#1732794508828492-583: The 2022 Russian invasion of Ukraine , Huntsman Corporation refused to withdraw from the Russian market. Research from Yale University updated on April 28, 2022 identifying how companies were reacting to Russia's invasion, identified Huntsman in their worst category of "Digging In", or refusing to withdraw or limit activities in Russia. Peter Huntsman of Huntsman Corporation responded to the Yale list by condemning
533-614: 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
574-969: The IMF ( List of countries by GDP (nominal) ). Among the Fortune Global 500, 371 companies (74.2%) are from these six countries. The top-ranked companies in each sector are as follows: Huntsman Corporation Huntsman Corporation is an American multinational manufacturer and marketer of chemical products for consumers and industrial customers. Huntsman manufactures assorted polyurethanes , performance products, and adhesives for customers like BMW , GE , Chevron , Procter & Gamble , Unilever and Walkaroo. With global headquarters in The Woodlands, Texas , it operates more than 60 manufacturing, R&D and operations facilities in over 25 countries and employ approximately 7,000 associates across three business divisions. Huntsman Corporation had 2023 revenues of approximately $ 6 billion. The Huntsman Corporation
615-596: 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 the 11th-largest petrochemicals company in
656-583: 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
697-968: The B2C segment primarily in India, Brazil & some parts of Europe under the brand name Araldite . The roots date back to 1758, when J.R. Geigy Ltd., the oldest chemicals company in Basel , Switzerland , began trading in chemicals and dyes. Huntsman acquired the Advanced Materials business from Vantico back in 2003. Polyurethanes supplies MDI-based polyurethane precursors and systems used in an extensive range of applications and market sectors. Performance Products supplies amines, carbonates, surfactants, and maleic anhydride . End uses include agrochemicals; oil, gas, and alternative energy; home detergents and personal care products; adhesives and coatings; mining; and curing agents for polyurethane and epoxy. During
738-637: 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
779-911: 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 the Chemicals SBU. In July 2002, SABIC commenced operations in Europe after
820-543: The Performance Additives and Titanium Dioxide (TiO 2 ) businesses of Rockwood Holdings, Inc. on October 1, 2014, to become the largest color and white pigments company in the world. Huntsman paid approximately $ 1 billion in cash and assumed certain unfunded European pension liabilities. Huntsman named its spray polyurethane foam (SPF) business as Huntsman Building Solutions (HBS) in May, 2020. The SPF business
861-570: The Texaco Chemical company for $ 1.1 billion. Texaco Inc. agreed to sell its last remaining petrochemicals plant to Huntsman in 1999 for about $ 600 million. The Huntsman Corporation became the then third-largest petrochemical business in the United States when in 1999, it acquired Imperial Chemical Industries ' polyurethanes, titanium dioxide, aromatics and petrochemical global businesses for $ 2.8 billion. Huntsman also acquired
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#1732794508828902-423: The Top 10 countries with the highest revenues from the Top 500 companies as of August 2022: As of August 2022 , 26 (5%) of the Fortune Global 500 companies are located outside East Asia , North America , and Europe : The following are the top-ranked companies in 2022 for each sector: The following is the list of Top 10 companies: As of August 2021 , this is the list of the Top 10 countries with
943-668: 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
984-546: The United Kingdom) are the world's largest economies as estimated by the IMF ( List of countries by GDP (nominal) ). Among the Global 500, 379 companies (75.8%) are from these six countries. The following are the top-ranked companies in 2018 for each sector: The following are the top-ranked companies in 2018 for each industry: Most profitable The following is the Global 500 list sorted by profits: The following
1025-673: 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 the absorption of the commodity chemicals produced under
1066-604: The company is counted in the tally for both countries. As shown in the table above, 436 (87.2%) of the Global 500 are represented by only 10 countries: two in North America (Canada and United States), five in Western Europe (France, Germany, Netherlands, Switzerland and the United Kingdom) and three in East Asia (China, Japan and South Korea). Moreover, the top six (United States, China, Japan, Germany, France and
1107-485: The company is counted in the tally for both countries. The following are the top-ranked companies in 2020 for each sector: As of August 2020 , just 24 (5%) of the Fortune Global 500 companies are located outside East Asia, North America, and Europe: The following is the list of Top 10 companies: As of July 2019 , this is the list of the Top 10 countries with the most Global 500 companies: The Global 500 includes Unilever & Royal Dutch Shell under
1148-484: The deal to purchase the company in June 2008. The suit alleged fraud against Apollo Management as Huntsman believed that the group never intended to allow its Hexion Specialty Chemicals unit to buy Huntsman Corp. for $ 6.5 billion. Huntsman also claimed Apollo put forth a higher bid to prevent the Basell AF buyout as it would have threatened Hexion's market share. Hexion stated Huntsman's declining financial position as
1189-416: 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
1230-400: The heading "Britain/Netherlands", as the company is counted in the tally for both countries. The following are the top-ranked companies in 2019 for each sector: The following is the list of Top 10 companies: As of July 2018 , this is the list of the Top 10 countries with the most Global 500 companies: The Global 500 includes Unilever under the heading "Britain/Netherlands", as
1271-421: The highest revenues Top 500 companies: As of August 2021 , just 21 (4%) of the Fortune Global 500 companies are located outside East Asia, North America, and Europe: The following is the list of Top 10 companies: As of August 2020 , this is the list of the Top 10 countries with the highest earning Top 500 companies: The Global 500 includes Unilever under the heading "Britain/Netherlands", as
SABIC - Misplaced Pages Continue
1312-408: The new entity, with Huntsman shareholders owning the remaining 48% of shares. The merger agreement was terminated on October 27, 2017. Huntsman Corporation spun-off its Pigments and Additives division as Venator Materials in an initial public offering on August 8, 2017. Venator became the owner of Huntsman's Titanium Dioxide and Performance Additives businesses, which offers products comprising
1353-529: The reason the deal was terminated. Upon termination of the Hexion merger agreement, the Huntsman stock value dropped by almost 50%. In December 2008, Apollo and Hexion agreed to pay Huntsman $ 1.1 billion in return for Huntsman dropping all charges against them. This includes $ 500 million in cash, a $ 250 million investment in Huntsman, and an additional $ 425 million in cash, repayable by separate suits against Credit Suisse. Activist hedge fund Starboard disclosed
1394-618: 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
1435-471: 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. Fortune Global 500 The Fortune Global 500 , also known as Global 500 ,
1476-430: The table above, 425 (85.0%) of the Global 500 are represented by only 10 countries: two in North America (Canada and United States), five in Western Europe (France, Germany, Netherlands, Switzerland, and the United Kingdom) and three in East Asia (China, Japan and South Korea). Moreover, the top six (United States, China, Japan, France, Germany, and the United Kingdom) are some of the world's largest economies as estimated by
1517-588: 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, the world's 11th-largest petrochemical company, ranked 331 on
1558-562: 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 the Al-Jubail Industrial City on
1599-502: Was formed when Huntsman acquired leading North American SPF company Icynene-Lapolla in February 2020 and combined it with Demilec, which Huntsman acquired in 2018. Huntsman is now the fifth largest insulation manufacturer in the world. In May 2017, Huntsman and Clariant announced that they would merge, as equals, forming a global leader in specialty chemicals with the deal valued at $ 20 billion. Clariant shareholders would own 52% of
1640-691: 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 the small fishing villages of Jubail on the Persian Gulf and Yanbu on the Red Sea into modern industrial cities. Production in 1985
1681-696: Was initially founded as the Huntsman Container Corporation in 1970 by Alonzo Blaine Huntsman Jr. and his younger brother Jon Huntsman, Sr. It went public as the Huntsman Corporation on the New York Stock Exchange NYSE : HUN in February 2005. Huntsman has grown through a series of acquisitions (with some divestitures) and today is a manufacturer and marketer of differentiated and specialty chemical products. In April 1994, Huntsman acquired