SABIC, Saudi Aramco mull integration in distribution, logistics, supply chain activities: Al-Benyan

The Corporate Collaboration and Integration Committee, which was formed to make recommendations on potential collaboration and integration between Saudi Basic Industries Corp. (SABIC) and Saudi Aramco is studying a potential integration between both companies in fields of distribution, logistics and supply chain activities, said Vice Chairman and CEO Yousef Al-Benyan during the company's virtual press conference on Q2 2020 financial statements. 

He clarified that the committee mulls coordinating the sales and marketing efforts to bring one face to the market, in addition to collaboration in operations, maintenance, procurements, etc., as well as improving feedstock supplies and production plans. 

Additionally, the committee is studying to capitalize on expertise in executing and streamlining growth projects, especially in the main regions of China and the US. 

The committee also aims to accelerate innovation by improving technologies to achieve growth. 

In June, Saudi Aramco announced the acquisition of a 70% stake in SABIC for SAR 259.125 billion. 

A corporate collaboration and integration committee was formed to make recommendations on collaboration and integration matters and was chaired by SABIC CEO.