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MENAFN Press - 10/04/2014
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(MENAFN Press) SABIC received the 2014 GCC-CSR Award for being the best performing Corporate Social Responsibility company in the Gulf region, reflecting the company's long experience in community service and its commitment to conduct business ethically.

The award was presented to SABIC during the Second GCC-Corporate Social Responsibility Conference 2014 in Abu Dhabi on April 1 under the patronage of Sheikha Fatmah bint Mubarak, Chairperson of the General Women's Union and Supreme Chairperson of the Family Development Foundation. Sheikh Nahyan bin Mubarak Al-Nahyan, Minister of Culture, Youth, and Social Development, inaugurated the conference

Mohamed Al-Mady, SABIC Vice Chairman and CEO, expressed his pride over this recognition, especially because SABIC is the only GCC company that has won the recognition at the conference. He said that SABIC follows a committed CSR strategy to serve the communities in which it operates.

SABIC pursues this commitment as a social organization while being a successful manufacturng company, he said. The company has set several programs to develop the community and improve living conditions, besides initiatives to protect the environment and natural resources, and integrate the concept of sustainability in all its operations.

Yaroob Al-Thenayan, Director, CSR, received the award on behalf of SABIC in the presence of a host of dignitaries and special interest CSR groups from the region and around the world. Al-Thenayan also participated in organizing the opening session which discussed future trends in CSR

The GCC-CSR Conference launched the CSR Award for the first time in 2013. The award is presented to the best performing GCC companies for the size of its CSR achievements, performance excellence, and the positive impact “ all judged by a special award committee. The conference is sponsored and organized by the Emirates Red Crescent, the Federation of the UAE Chambers of Commerce & Industry, and the Executive Bureau for the Council of Ministers of Labor & Ministers of Social Affairs in GCC States

Saudi Basic Industries Corporation (SABIC) ranks among the world's top petrochemical companies. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.SABIC recorded a net profit of SR 25.3 billion (US 6.7 billion) in 2013. Sales revenues for 2013 totaled SR 189 billion (US 50.4 billion). Total assets stood at SR 339.1 billion (US 90.4 billion) at the end of 2013.SABIC's businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant research resources with 18 dedicated Technology & Innovation facilities in Saudi Arabia, the USA, the Netherlands, Spain, Japan, India, China and South Korea. The company operates in more than 40 countries across the world with around 40,000 employees worldwide.SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia Pacific.Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70 percent of SABIC shares with the remaining 30 percent held by private investors in Saudi Arabia and other Gulf Cooperation Council countries.



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