Sabic Innovative Plastics appoints new president

20 May 2008

Sabic Innovative Plastics, the thermoplastic business of Saudi Basic Industries Corporation (Sabic), has appointed Charlie Crew as its president and chief executive officer.

Crew succeeds Brian Gladden, who Sabic says left the company to pursue other opportunities.

Prior to taking up the new post, Crew was vice-president and general manager of Sabic Innovative Plastics’ global ventures business.

Previously known as GE Plastics, Sabic Innovative Plastics was bought last year by Sabic for $11.6bn in one of the largest acquisition deals made by a Middle East company (MEED 24:7:07).

Based in Massachusetts in the US, Sabic Innovative Plastics produces a range of plastic resins used in automotive, healthcare, consumer electronics, transportation, performance packaging, building and construction, telecommunications, and optical media applications.

In 2006, it made profits of $674m from revenues of $6.64bn.

Riyadh-based Sabic is one of the world’s largest chemicals companies. In 2007 it recorded profits of $7.2bn from revenues of $33.7bn due largely to its low-cost gas feedstock base.

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