SABIC’s strategy sets forth a roadmap for the company to realize its vision of becoming the preferred world leader in chemicals and a true global powerhouse in the industry by delivering ‘Chemistry that Matters™’.
We aim to deliver on our strategy by transforming SABIC into a leading global diversified chemical company that is able to deliver sustainable profitable growth.
As part of this strategy, we are focused on providing differentiated products to support our customers’ growth and working hard to improve productivity and efficiencies. We will continue to invest in innovation while building and strengthening businesses where we see superior growth and sector-leading returns.
STRATEGIC PORTFOLIO STRENGTH AND DIVERSITY
In our core Petrochemicals and Agri-Nutrients businesses, we are investing to drive superior growth and increase the resilience of these differentiated commodity-based businesses. We strive to become the leading global, fully integrated Chemicals, Plastics and Agri-Nutrients company.
In our Specialties business, we aim to build a position of strength over the medium term by building scale and innovative product offerings that can create a new growth platform for the group that is independent of feedstock dynamics that can support Saudi Vision 2030 designed to reduce Saudi Arabia’s dependence on hydrocarbon exports.
Our strategic ambitions rest on seven pillars that are critical to who we are: Customer Focus, Market Focus, Operational Excellence, Innovation, Portfolio Management, Transformation and Localization Engine.
We work hard to understand the evolving needs of our customers in terms of service, product differentiation and solutions.
We aim to accelerate growth both organically and non-organically by being close to regional markets. In our Petrochemicals business, for example, we aim to establish an asset base in the US to take advantage of shale gas opportunities, to expand in Asia where the maximum market growth is, to strengthen our asset base in Europe, and to deliver further growth in Saudi Arabia while taking advantage of our proximity to MEAF markets.
We aim to improve efficiencies in our core areas of manufacturing, commercial, supply chain and cost management.
We strive for competitive advantage selectively through process, catalyst and application development. Sustainability is central to our focus on how we run our business and address current and future challenges.
We aim to prioritize strategic options and capital allocation within SABIC’s portfolio of businesses.
We will continue enhancing SABIC’s organizational effectiveness by investing in leadership, training and culture and by improving our operating model.
We aim to further develop the communities within Saudi Arabia. We work hard to further catalyze local content growth in Saudi Arabia through a structured program of leveraging SABIC capabilities.