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SABIC CEO OUTLINES EXPANSION PROGRESS IN SPEECH TO U.S. PARTNERS, CUSTOMERS

 SABIC CEO OUTLINES EXPANSION PROGRESS
 IN SPEECH TO U.S. PARTNERS, CUSTOMERS
 NEW YORK, May 12 /PRNewswire/ -- Saudi Basic Industries Corporation (SABIC) Chief Executive Officer Ibrahim A. Ibn Salamah last night updated customers, partners and other business associates in the petrochemical industry on the progress of his company's expansion effort. He spoke at a reception at the Waldorf Astoria Hotel, during his last evening of a 10-day U.S. tour.
 In his speech, Ibn Salamah provided an overview of SABIC's expansion plans. SABIC's goal, he said, entails "...expanding and improving operations, both in our kingdom and around the world, so that we will continue to maintain the quality of product and high level of service you expect from us."
 Among the steps currently being undertaken, Ibn Salamah cited:
 -- Continued expansion of SABIC's new fertilizer marketing company, SANAPIK, to the point where upon completion in 1993, SABIC will be the world's third largest exporter of Urea.
 -- Near completion of SABIC's Industrial Complex for Research and Development in Riyadh, which, together with the company's technical service laboratory, will meet customers' needs regarding plastics resins.
 -- Efforts to ensure that SABIC has a complete Total Quality Management (TQM) program in place. Most recently the AL-Jubail Petrochemical Co. (KEMYA) earned International Standards Organization (ISO) 9002 certification for its polyethylene production process.
 Ibn Salamah also highlighted the role here of SABIC Marketing Americas, noting that the office operates five terminals along the Eastern U.S. and Gulf coasts.
 "Our capabilities to serve customers here is growing in relation to their needs," he said.
 SABIC's five terminals have a combined storage capacity of over 40,000 tons. The company supplies key chemical products in the Americas including ethylene glycols, liquid caustic soda, MTBE and methanol.
 Last night's gathering was part of a tour for senior SABIC executives that also included visits to Washington and Houston.
 While in New York, the SABIC delegation visited Hoechst-Celanese, Inc., a 25 percent joint-venture partner with SABIC in National Methanol Co. (IBN SINA). The SABIC executives also met with senior executives from Union Carbide Corporation.
 Since SABIC exported its first product in 1983, the company has twice been ranked among Fortune's top International 500. The company is regarded as a major global supplier of basic petrochemical products to customers in 70 countries around the world, including the United States.
 SABIC Marketing Americas, Inc., based in Stamford, Conn., was established in 1987 to forge stronger relationships with customers in the Americas. The company works closely with SABIC Services Americas, Inc., based in Houston, to identify and develop long-term markets.
 U.S.-based companies form the largest group of single foreign partners in SABIC's joint venture manufacturing affiliates. Last year, the Americas consumed 370,000 metric tons of SABIC products (all of them chemicals), or 7 percent, of the 5,689 million metric tons of products SABIC Marketing Ltd. marketed worldwide in 1991.
 -0- 5/12/92
 /CONTACT: Abdul Aziz Al-Ageel of SABIC Marketing Americas, 203-353-5350, or Bernadette O'Leary of Burson-Marsteller, 212-614-4912, for SABIC/ CO: Saudi Basic Industries Corporation ST: IN: CHM SU:


CK -- NY010 -- 8930 05/12/92 08:15 EDT
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Publication:PR Newswire
Date:May 12, 1992
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