By: Aseel Bin Taleb
Riyadh – Mubasher: Saudi Basic Industries Corp (SABIC) achieved results are good regarding the current challenges face the global markets, SABIC deputy chairman Yousef Al Benyan told Mubasher on Wedneday.
Al Benyan assured that the factories and their production are being assessed continuously and there is no intention for the closure of any work units.
He added that the company will go on with the specialized industries' strategies, which need higher investments and more developed techniques.
Moreover, Al Benyan pinpointed during a press conference held by the company on Wednesday that the metals sector incurred SAR 200 million losses as a result for the challenges it faces including the prices which reached the minimum rate.
SABIC concerned for the restructuring of the sector, with the aim of a demand growth which will help boosting the prices and productivity, according to the deputy chairman.
The company posted a 6.79% profit decrease year-on-year to SAR 5.22 billion in Q3-16 from SAR 5.6 billion in Q3-15.
Translated by: Sara Ghali
