SABIC Plastics Investing in ChinaPITTSFIELD, Mass. — Saudi Basic Industries Corp. is making significant investment in China.
Its Innovative Plastics division, headquartered in Pittsfield, has made its third Chinese engineering thermoplastics investment this year.
The plastics division, Chongqing Xiyong Micro-electronics Industrial Park, and the Chongqing Economic and Informatization Commission announced on Thursday a memorandum of understanding in which SABIC would establish an engineering thermoplastics compounding plant in Chongqing.
"We are in China, for China. In the more than 30 years we've operated in this region, we've cultivated long-term customer relationships that have helped make SABIC the first supplier many of the world's leading [orginal equipment manufacturer] call when designing their customers' innovations," said Charlie Crew, executive vice president, head of SABIC's Innovative Plastics business."
Chongqing Mayor Huang Qifan said, "This compounding plant in Chongqing Xiyong Micro-electronics Industrial Park is SABIC's third investment in China in 2011 to further enhance the electronics industry."
Today, SABIC in Asia has 41 offices, nine manufacturing sites and five Technology & Innovation Centers across 12 key Asian countries servicing a portfolio of customers across diverse industries.
Innovative Plastics strategic business unit is a multibillion-dollar leading, global supplier of engineering thermoplastics.