TITLE

Saudi Basic acquiring GE Plastics for $11.6 b

PUB. DATE
June 2007
SOURCE
Chemical Business;Jun2007, Vol. 21 Issue 6, p88
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the imminent acquisition of GE Plastics, the plastics division of General Electric, by state-owned petrochemical manufacturer Saudi Basic Industries Corp. (SABIC) for $11.6 billion. The deal stands as one of the largest acquisitions of a U.S. business enterprise by a West Asian company. SABIC CEO and vice-chairman Mohamed Al-Mady states that the acquisition is another step towards the company's aim to become a leading manufacturer in the world.
ACCESSION #
27330325

 

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