——Liao Minshuo, President of SABIC Innovative Plastics Asia Pacific Region In September last year, Saoud, chairman of the Middle East petrochemical giant SABIC, announced that the company acquired GE Plastics for US$11.6 billion. (GE plastic). This acquisition has caused a lot of shock in the industry. When the name of GE Plastics disappeared in the industry, SABIC Innovative Plastics began to appear in people's sights. How does SABIC buy GE Plastics after consolidating its business? Has GE Plastics, a new owner, changed the business structure and investment strategy of SABIC Innovative Plastics in China? Not long ago, the reporter interviewed Liang Mingshuo, president of SABIC Innovative Plastics Asia Pacific.
Liang Minshuo, the former president of GE Plastics Asia Pacific, and currently the president of SABIC Innovative Plastics Asia Pacific, has the most say in the evolution of the company. Regarding the business integration after joining SABIC, his answer is very simple: “Our business is very independent and it is a separate operating department of SABIC. The development strategy has not changed and the employees are the same people.†Talking about the future development in China Liang Minshuo excitedly told reporters: "We have invested more in China than ever before." Today's SABIC Innovative Plastics is even more powerful.
Return to the chemical team In Liang Min-shuo's view, GE Plastics has become a fish after joining SABIC and has a sense of returning to the chemical team. “In the past we were just a chemical department in General Electric. Now it is fully integrated into SABIC, one of the top 10 chemical companies in the world.†For SABIC, this acquisition has greatly expanded its plastic product range, adding high-performance plastic products. , and will thus enter the new international market. The talent, products and technology brought by GE Plastics have further strengthened SABIC's position as a global leader in the plastics industry.
Liang Minshuo added: “GE Plastics is doing chemical business, which is inconsistent with General Electric's overall development strategy, but it is in line with SABIC's business in all aspects. The chemical industry has periodic characteristics, and raw material prices often change. SABIC Is a chemical company that knows how to overcome the effects of price fluctuations."
General Electric also previously said that the choice of SABIC is due to price reasons, but also considering that the company is the world's fastest growing, creative and amazing companies. It has extensive experience in operating large-scale chemical plants with world-leading processes and is the best candidate for the growth of GE Plastics' business.
Doing Plastic Solution Experts In 2007, SABIC Innovative Plastics reported sales of US$7 billion, and SABIC’s total sales revenue was more than US$30 billion. From the numbers, we can see the weight of the new business unit in the entire SABIC business. "Sales is only one aspect. What's more important is to bring high-end products and technologies to SABIC."
At present, the company has increased its investment in engineering plastics and has vigorously developed new products and new applications. According to Liang Minshuo, 30% of the company’s sales come from more than 600 new products launched over the past four years. These products and application technologies provide innovative solutions for the automotive and notebook computers.
As a global supplier of plastic resins, SABIC Innovative Plastics' polycarbonate (PC), ABS (styrene butadiene acrylonitrile copolymer), ASA (acrylonitrile styrene acrylate copolymer), PPE (Poly) Phenyl ether, PC/ABS, PBT (polybutylene terephthalate) resins, and LNP series high performance composite specialty materials are widely used in automotive, healthcare, consumer electronics, transportation, packaging, and construction. The high-performance Lexan sheet and film products produced by its Specialty Thin Film Division can be used in demanding fields; the experienced automotive division can provide plastic solutions for the automotive industry. In addition, the group also has six global application development and technology centers.
Greater investment in China Liang Minshuo said that SABIC Innovative Plastics plans to establish a new world-class R&D and customer technology center in Shanghai in 2010, and its Asia Pacific regional headquarters will also settle here.
Currently, SABIC Innovative Plastics has annual sales of US$1.2 billion in China. China is a strategic market for its business growth and one of the major investment markets. The company has plastic mixing plants in Nansha, Guangdong and Pudong, Shanghai, and a special film sheet plant in Zhongshan, Guangdong. To ensure its leading position in product, technology and application development in the market, a large number of researchers participate in research projects at the China Technology Center in Shanghai.
In addition, the company also meets customer needs by improving local technology development and product manufacturing capabilities. The company is currently substantially increasing its production capacity at the Pudong plant in Shanghai and has expanded its four plastics mixing and production lines. For the first time, the plant adopts lean manufacturing design to produce plastic resins required by the automotive and electrical and electronic industries, enabling quick and flexible production of small-batch orders.
At the same time, the company also set up a new research center for notebook computers in the China Technology Center. Customers can work with experts to develop new applications and shorten the development cycle. Liang Min-shuo pointed out that consumer electronics products are an important market for SABIC Innovative Plastics. At present, 80% of the world's notebook computers are produced in China. The development of thin-walled and high-strength materials can, on the one hand, reduce costs and, on the other, increase design freedom. This is the focus of company application development.
Liang Min-shuo believes that the key to winning in market competition is to increase investment in R&D, and second, to have an excellent sales team. He is very confident about the future development.
SABIC had previously stated that by 2020 it will be among the top three chemical companies in the world, with sales of US$130 billion. Such a strong backing will undoubtedly provide a higher takeoff platform for the future development of SABIC Innovative Plastics.
Liang Minshuo, the former president of GE Plastics Asia Pacific, and currently the president of SABIC Innovative Plastics Asia Pacific, has the most say in the evolution of the company. Regarding the business integration after joining SABIC, his answer is very simple: “Our business is very independent and it is a separate operating department of SABIC. The development strategy has not changed and the employees are the same people.†Talking about the future development in China Liang Minshuo excitedly told reporters: "We have invested more in China than ever before." Today's SABIC Innovative Plastics is even more powerful.
Return to the chemical team In Liang Min-shuo's view, GE Plastics has become a fish after joining SABIC and has a sense of returning to the chemical team. “In the past we were just a chemical department in General Electric. Now it is fully integrated into SABIC, one of the top 10 chemical companies in the world.†For SABIC, this acquisition has greatly expanded its plastic product range, adding high-performance plastic products. , and will thus enter the new international market. The talent, products and technology brought by GE Plastics have further strengthened SABIC's position as a global leader in the plastics industry.
Liang Minshuo added: “GE Plastics is doing chemical business, which is inconsistent with General Electric's overall development strategy, but it is in line with SABIC's business in all aspects. The chemical industry has periodic characteristics, and raw material prices often change. SABIC Is a chemical company that knows how to overcome the effects of price fluctuations."
General Electric also previously said that the choice of SABIC is due to price reasons, but also considering that the company is the world's fastest growing, creative and amazing companies. It has extensive experience in operating large-scale chemical plants with world-leading processes and is the best candidate for the growth of GE Plastics' business.
Doing Plastic Solution Experts In 2007, SABIC Innovative Plastics reported sales of US$7 billion, and SABIC’s total sales revenue was more than US$30 billion. From the numbers, we can see the weight of the new business unit in the entire SABIC business. "Sales is only one aspect. What's more important is to bring high-end products and technologies to SABIC."
At present, the company has increased its investment in engineering plastics and has vigorously developed new products and new applications. According to Liang Minshuo, 30% of the company’s sales come from more than 600 new products launched over the past four years. These products and application technologies provide innovative solutions for the automotive and notebook computers.
As a global supplier of plastic resins, SABIC Innovative Plastics' polycarbonate (PC), ABS (styrene butadiene acrylonitrile copolymer), ASA (acrylonitrile styrene acrylate copolymer), PPE (Poly) Phenyl ether, PC/ABS, PBT (polybutylene terephthalate) resins, and LNP series high performance composite specialty materials are widely used in automotive, healthcare, consumer electronics, transportation, packaging, and construction. The high-performance Lexan sheet and film products produced by its Specialty Thin Film Division can be used in demanding fields; the experienced automotive division can provide plastic solutions for the automotive industry. In addition, the group also has six global application development and technology centers.
Greater investment in China Liang Minshuo said that SABIC Innovative Plastics plans to establish a new world-class R&D and customer technology center in Shanghai in 2010, and its Asia Pacific regional headquarters will also settle here.
Currently, SABIC Innovative Plastics has annual sales of US$1.2 billion in China. China is a strategic market for its business growth and one of the major investment markets. The company has plastic mixing plants in Nansha, Guangdong and Pudong, Shanghai, and a special film sheet plant in Zhongshan, Guangdong. To ensure its leading position in product, technology and application development in the market, a large number of researchers participate in research projects at the China Technology Center in Shanghai.
In addition, the company also meets customer needs by improving local technology development and product manufacturing capabilities. The company is currently substantially increasing its production capacity at the Pudong plant in Shanghai and has expanded its four plastics mixing and production lines. For the first time, the plant adopts lean manufacturing design to produce plastic resins required by the automotive and electrical and electronic industries, enabling quick and flexible production of small-batch orders.
At the same time, the company also set up a new research center for notebook computers in the China Technology Center. Customers can work with experts to develop new applications and shorten the development cycle. Liang Min-shuo pointed out that consumer electronics products are an important market for SABIC Innovative Plastics. At present, 80% of the world's notebook computers are produced in China. The development of thin-walled and high-strength materials can, on the one hand, reduce costs and, on the other, increase design freedom. This is the focus of company application development.
Liang Min-shuo believes that the key to winning in market competition is to increase investment in R&D, and second, to have an excellent sales team. He is very confident about the future development.
SABIC had previously stated that by 2020 it will be among the top three chemical companies in the world, with sales of US$130 billion. Such a strong backing will undoubtedly provide a higher takeoff platform for the future development of SABIC Innovative Plastics.
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