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Sabic Completes Acquisition of GE Plastics

9:00 AM MDT | September 12, 2007 | Robert Westervelt with Michelle Bryner

Sabic has completed its $11.6-billion purchase of GE Plastics, gaining the leading global position in engineering plastics (CW, May 30/June 6, p. 5). The business has been renamed Sabic Innovative Plastics, and will remain headquartered in Pittsfield, MA. Gladden: Gaining access to capital. 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...

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