Monday, August 18, 2008

SABIC Spent 11.6 Billion Dollars on Acquisition of GE Plastic

SABIC EU mediation approved SABIC's acquisition of GE Plastics sector, and said that this acquisition will not bring an impact on the European plastics industry.
The European Commission said, the plastic sectors of SABIC and GE belong to different plastic areas, are highly complementary. SABIC's plastic is for life plastic products, and GE's products are engineering plastics. GE said the acquisition is expected to be finished in the third quarter, the total value of 11.6 billion U.S. dollars.
Originally Posted:
Author: Angulo Fu