SABIC signs research agreement with University of Cambridge to develop innovative solutions for community benefit

The Saudi Basic Industries Corporation (SABIC) signed a multiyear strategic agreement with the University of Cambridge in Cambridge, UK, on September 24 to mutually develop advanced technologies into innovative solutions, with a clear focus on meeting key market objectives and the demands of the global community.

The agreement, which was signed in the presence of Mohamed Al-Mady, SABIC Vice Chairman and CEO, focuses on diverse areas of research which are of specific relevance to SABIC, ranging from Chemical Engineering, Biotechnology, Energy, Functional Materials and Modelling. The agreement will allow SABIC researchers to work with world class teams of scientists in the respective joint research areas.

Ernesto Occhiello, Executive Vice President, SABIC Technology and Innovation, said, “With this agreement, SABIC has demonstrated its growth commitment through intensified and meaningful cooperation with key partners in research. By developing innovative solutions we seek to further accelerate our product and technology advancement to fulfil our overall corporate goals.”

Occhiello added, “We are indeed proud to be associated with the University of Cambridge. Through this partnership we hope to stimulate knowledge collaboration as part of our ongoing investments in world-class technologies and technical expertise.”

The University of Cambridge is one of the world's oldest universities and leading academic centers, and a self-governed community of scholars. Its reputation for outstanding academic achievement is known worldwide and reflects the intellectual achievement of its students, as well as the world-class original research carried out by the staff of the university and the colleges.

SABIC signed four other research collaboration agreements earlier this year – with the Dalian Institute of Chemical Physics, China; ETH Zurich, Switzerland; National Research Council, Italy; and Fraunhofer-Gesellschaft, Germany.

Notes to Editors

• * Trademark of SABIC Petrochemicals B.V.
• SABIC is a registered trademark of SABIC Holding Europe B.V.
• High-resolution photos are available upon request

About SABIC

Saudi Basic Industries Corporation (SABIC) ranks among the world’s top petrochemical companies. The company is among the world’s market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.

SABIC recorded a net profit of SR 29.24 billion (US$ 7.80 billion) in 2011. Sales revenues for 2011 totaled SR 189.90 billion (US$ 50.64 billion). Total assets stood at SR 332.78 billion (US$ 88.74 billion) at the end of 2011.

SABIC’s businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant research resources with 16 dedicated Technology & Innovation facilities in Saudi Arabia, the USA, the Netherlands, Spain, Japan, India and South Korea. The company operates in more than 40 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 held by private investors in Saudi Arabia and other Gulf Cooperation Council countries.

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This release was published on openPR.