Sabic Acquires Lead in Engineering Plastics

Sabic has completed its $11.6-billion purchase of GE Plastics, gaining the leading global position in engineering plastics. The business has been renamed Sabic Innovative Plastics, and will remain headquartered in Pittsfield, MA. Brian Gladden, former v.p. and general manager of GE Plastics’ resins division, has been named CEO of the business. GE Plastics posted revenue of $6.6 billion last year, and has leading positions in polycarbonate (PC) and PC blends, which account for more than 50% of sales, as well as polyphenylene ether alloys, polyetherimide...

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