The Saudi Arabian public petroleum and natural gas company Aramco has announced its intention to transfer the sales and marketing responsibility for a number of Aramco petrochemicals and polymers to SABIC.
The resale responsibility of various SABIC products will be transferred to to Aramco Trading company.
The planned and the effect of the changes will be executed on a gradual scale during 2021, because of which SABIC will Focus on petrochemicals products and ATC on fuel products.
After Aramco’s acquisition of 70% stake in June 2020, this will be the significant step in aligning the SABIC and Aramco strategies.
The current changes will drive the further operational efficiencies, which will strengthen the brands of both companies and their services offering and combined products.
The improved product range and availability will benefit the customers in points of sale, ordering shipping reliability, supply chain and after market services.
The Chief Executive Officer and the president of Aramco Trading Company, Ibrahim Al-Buainain said:
“The transfers reflect our shared commitment to capitalise on the complementary nature of Aramco and SABIC’s respective product portfolios as we strive to create added value for our customers and shareholders.
“Together, Aramco Trading Company and SABIC are focused on providing a world-class products and services offering. These changes will place us in an even stronger position to deliver market- leading innovation and value.”
The Executive Vice President – Petrochemicals of SABIC, Abdulrahman Al-Fageeh, said:
By leveraging and optimising the company’s complementary combined product portfolios SABIC will create a one-stop shop which will benefit global customers, including in strategically important geographies, especially across Asia.
The sales and marketing transfers and operational changes are intended to put SABIC closer to market, driving greater agility and flexibility to deliver added value to customers and power their ambition.
About SABIC
SABIC (Saudi Basic Industries Corporation) is a multinational and chemical manufacturing company of Saudi Arabia and is also a subsidiary of the state-owned petroleum and natural gas company Saudi Aramco.
