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FINANCIAL NEWS
SABIC to resume operations in Japan
13 Mar 2011
(MENAFN) Saudi Basic Industries Corp’s (SABIC) chief executive, Mohammed Al Mady, said that the company shut down its plant in Japan in response to the recent earthquake that hit the country, reported Reuters.
Al Mady said that operations in the plant would be resumed very soon this month.
The chairman said that despite the earthquake, Asia remains the biggest growth market for SABIC in 2011. Europe is considered SABIC’s weakest market at the current time.
It is worth noting that 70 percent of SABC’s products are exported, with the majority to Asia followed by the United States and other markets
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