Saudi Basic Industries Corp. (SABIC) will introduce a series of structural changes to its strategic business units (SBUs) and global operations on January 1, 2016, the company said in a statement.

 

Commodity products once housed in SABIC’s Innovative Plastics SBU will now be located at its Chemical and Polymers SBU. The remaining plastics solutions will fall under a newly created Specialties Unit, which will serve as the exclusive home for the company’s specialty solutions.

 

The petrochemicals producer’s Performance Chemicals and Innovative Plastics units will cease to exist.

 

The reorganization follows a comprehensive review addressing key challenges faced by the company, including changes in the market landscape and its aim to adopt more innovative technologies and systems.

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