Regions :: Middle East
... Higher Selling Prices and Productivity Lift Sabic, Reliance Results
1:23 PM MDT | October 30, 2007 | Chemical Week Editorial Staff
Sabic reported third-quarter net income up 37%, to SR7.4 billion ($1.97 billion). Net income for the first nine months rose 42%, to SR20.2 billion, on sales up 36%, to SR86.5 billion. “Higher profits in the first nine months of 2007 reflect the improvement in the prices of most key products in line with the increase of productivity, as a result of the added capacities from a number of expansion projects going onstream,” says Sabic CEO Mohamed Al-Mady. Sabic bought GE Plastics during the third quarter. Separately, Reliance Industries reported net...
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