By Maged Al-Shabib
Riyadh-Mubasher: Major petrochemical companies in Saudi Arabia will likely acquire small players which cannot bear their expenses, said Ahmed Buhazza, general manager of supply chain at Advanced Petrochemical Co.
"We expect major petrochemical producers to acquire the small firms which are not able to continue in the next period," Buhazza said.
On the sidelines of a press conference held in Saudi Arabia, Buhazza told Mubasher that the current price deterioration is 'temporary', describing it as an 'economic cycle'.
The 13th Saudi Exhibition for Plastics and Petrochemicals was launched in Saudi Arabia on Tuesday, to discuss the importance of manufacturing and plastics industries to the local and global companies.
Translated by Abdul Maguid Aboshahla
