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6/27/2007

SABIC Buys GE Plastics

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General Electric Co., Fairfi eld, Conn., has agreed to sell its GE Plastics business, based in Pittsfi eld, Mass., to Saudi Basic Industries Corp. (SABIC) of Riyadh, Saudi Arabia, for $11.6 billion.

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General Electric Co., Fairfi eld, Conn., has agreed to sell its GE Plastics business, based in Pittsfi eld, Mass., to Saudi Basic Industries Corp. (SABIC) of Riyadh, Saudi Arabia, for $11.6 billion. GE is a $6.65-billion global supplier of engineering thermoplastics. SABIC is one of the world’s largest petrochemical manufacturers and the fourth largest polymer producer. It makes PE, PP, PVC, PET, PS, EPS bead, and melamine. The parties hope to conclude the deal by the end of September. SABIC Americas is based in Houston. Tel: (713) 532-4999 • www. sabicamericas.com

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