SABIC in GE Plastics bid?

Kamalick, Joe; Kovac, Matt
April 2007
ICIS Chemical Business;4/2/2007, Vol. 2 Issue 60, p4
Trade Publication
The article deals with reports that SABIC Co. plans to bid for the plastics division of General Electric Co. (GE). SABIC is remaining tight-lipped over reports in the British media that it plans to bid for GE's plastics division in a deal worth up to $12 billion. But, Abdullah Jasser al-Madhy, SABIC's manager for chemical intermediates, said that acquiring the business would be a good move for SABIC.


Related Articles

  • Bringing the GE, Sabic deal to light. Esposito, Frank // Plastics News;5/28/2007, Vol. 19 Issue 13, p1 

    The article reports on the sale of the plastics unit of the Fairfield, Connecticut-based General Electric (GE) Co. to Saudi Basic Industries Corp. (SABIC). The unit has been sold for $11.6 billion on May 21, 2007. GE Chairman and Chief Executive Officer (CEO) Jeff Immelt stated that the company...

  • Sabic buys out GE Plastics in $11.6b deal.  // TCE: The Chemical Engineer;Jun2007, Issue 792, p5 

    The article reports on the acquisition of GE Plastics by Saudi Basic Industries (Sabic) for $11.6 billion. It cites the implications of the transaction for the plastics industry. It cites the reason of GE for selling the business. It notes that the take-over ensures access to cheap raw materials...

  • SABIC bags GE Plastics. Bains, Elizabeth; Gibson, Jane // ICIS Chemical Business;5/28/2007, Vol. 2 Issue 68, p4 

    The article focuses on the acquisition of U.S.-based GE Plastics by Saudi Arabia-based SABIC. SABIC has won the battle for GE Plastics after bidding $11.6 billion (€8.6 billion) for the U.S.-based plastics maker. The GE Plastics deal gives the Riyadh-based company a much sought-after U.S....

  • Sabic to Bid for GE?  // Chemical Week;4/4/2007, Vol. 169 Issue 12, p4 

    The article reports on the potential acquisition of GE Plastics Co. by Sabic Co. Sabic is reportedly considering a bid for GE Plastics, according to a Reuters report that quoted a Sabic source. The company has been rumored to be one of the potential bidders of the business, along with Koch...

  • SABIC GUYS GE PLASTIC.  // Appliance Design;Nov2007, Vol. 55 Issue 11, p10 

    The article reports on the acquisition of GE Plastics from General Electric by Saudi Basic Industries Corp. (SABIC). The acquisition price is $11.6 billion. The name of GE Plastics was changed to SABIC Innovative Plastics. The focus of the acquired company will be on thermoplastics and...

  • BIZ BRIEFS:.  // Composites Technology;Oct2007, Vol. 13 Issue 5, p13 

    This section offers news briefs on the composite materials industry. Saudi Basic Industries Corp. has completed its purchase of Pittsfield, Massachusetts-based GE Plastics from General Electric for a disclosed amount. Maverick Corp. has acquired the Superimide Composites Business from Stow,...

  • GEC buys Fore, takes ATM plunge. Musich, Paula; Rendleman, John // PC Week;05/10/99, Vol. 16 Issue 19, p44 

    Discusses the role of General Electric Co. (GEC) in the United States networking equipment market in light of its acquisition of asynchronous transfer mode (ATM) pioneer Fore Systems Inc. GEC to join four other large European networking companies that have turned their competitive focus on...

  • SABIC FIGHTS TO KEEP ITS UNDISPUTED WORLD TITLE. Kovac, Matt // ICIS Chemical Business;1/8/2007, Vol. 2 Issue 48, p15 

    The article looks at the growth plans of Saudi Basic Industries Corp. (SABIC). In 2006, the company acquired the petrochemical business of DSM in Europe and the chemicals and polymers business of Huntsman in Great Britain. The integration of the two businesses stressed the intention of SABIC CEO...

  • Sabic to Acquire GE Plastics for $11.6 Billion. Westervelt, Robert // Chemical Week;5/30/2007, Vol. 169 Issue 19, p8 

    The article reports on the agreement of Saudi Basic Industries Corp. (Sabic) and General Electric (GE) to acquire GE Plastics for $11.6 billion. Brian Gladden, who serves as vice president of GE Plastics' resin business, has been named president and chief executive officer (CEO) of the business,...


Other Topics