Saudi Basic Industries Corporation (SABIC) plans to voluntarily liquidate three wholly-owned subsidiaries, in line with its transformation plans, according to a statement to the Saudi Stock Exchange (Tadawul).
The liquidation decision includes SABIC Industrial Catalysts Company, Saudi Carbon Fiber Company, each with a paid-in capital of SAR 500,000.
The third company is Saudi Japanese Acrylonitrile Company, with a capital of SAR 171.23 million.
SABIC has vowed to continue developing related products through other subsidiaries.
The liquidation is not expected to have any financial impact on SABIC’s consolidated financial statement.
Source: Mubasher
LinkedIn Twitter Xing EmailINEOS has postponed work on the propane dehydrogenation (PDH) unit at its Antwerp, Belgium site, opting to prioritise construction of the cracker, a company spokesperson said on […]
TechnipFMC says it has resumed activities related to the previous announced separation of the company into two separate pure-play businesses, TechnipFMC and Technip Energies.
Solvay’s new policy increases maternity leave to 16 weeks. It is now available to any co-parent regardless of gender or sexual orientation; it also includes parents who adopt. The parent employed by Solvay will receive 100% of his or her salary during this leave period.