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MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Saudi Basic Industries Corporation    2010   SA0007879121

SAUDI BASIC INDUSTRIES CORPORATION

(2010)
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Saudi Basic Industries : SABIC deepens collaboration with BRÜCKNER to encourage circular material use in film manufacturing

09/29/2020 | 06:55pm EST

SABIC, a global leader in diversified chemicals, is pleased to announce its recent collaboration with a leader in film manufacturing technologies, Brückner Maschinenbau. This industry-leading innovation combines SABIC's certified circular BOPP and BOPE materials with Brückner's world leading manufacturing technology for flexible packaging. The collaboration aims to encourage flexible packaging manufacturers to use SABIC's TRUCIRCLE solutions for certified circular polypropylene (PP) and polyethylene (PE) to create more sustainable products.

The certified circular products from SABIC's TRUCIRCLE portfolio are made from feedstock recycling of difficult to recycle post-consumer used plastics. Its certified circular BOPP polymer uses recycled material without compromising on quality. Meaning the performance of the film including the stiffness toughness balance, barrier properties and hot fill requirements are met, whilst meeting the food compliance standards, high product purity and safety requirements. This most recent combination of Brückner and SABIC's technological innovations has resulted in the creation of a unique platform to produce specialized BOPP (biaxially-oriented polypropylene) films. These films can be used for various flexible applications such as labels, tape and food packaging such as confectionary, snacks, baked good, dried fruits, pasta and fresh food packaging.

As the world-leading biax-film machine manufacturer, Brückner tested SABIC's certified circular BOPP material in their own technology center as a drop-in solution for biax-film applications. Trials demonstrated once again that BOPP films made from SABIC's certified circular polypropylene is fully in line with industry's need for more sustainability-focused solutions without any compromises on quality. The material's processability and stretchability performance was shown to be on a parr with the best performing reference materials.

Dr. Stefan Seibel, Head of New Technologies, Brückner Maschinenbau, said, 'Flexible packaging converters are expanding their range of applications and offer a polypropylene which incorporates recycled content as a drop-in solution and viable alternative to existing biax-film lines, offering added sustainability benefits without affecting quality. This is a huge step forward in our journey towards closing the loop across the plastics value chain and working together to create a circular economy.'

Mark Vester, Circular Economy Leader at SABIC, said 'With Bruckner's machinery and processing expertise, convertors can take full advantage of our innovative TRUCIRCLE™ solutions and integrate it into their flexible packaging. SABIC and Brückner are working together to find further solutions to improve the recyclability of packaging films and enable manufacturers to create more sustainable products which will help to drive forward the circularity of our industry.'

SABIC's TRUCIRCLE portfolio and services is a considerable milestone on the journey towards closing the loop and creating a circular economy for plastics. It showcases SABIC's circular innovations and can help manufacturers reduce plastic waste by using more sustainable materials. The TRUCIRCLE portfolio spans design for recyclability, mechanically recycled products, certified circular products from feedstock recycling of used plastic and certified renewables products from bio-based feedstock.

Brückner and SABIC have previously collaborated to create more sustainable materials for the packaging industry. In 2019, both companies worked together to successfully introduce BOPE films into the market. These films are based on raw material developments, which offer completely new possibilities for the film and packaging industry. Currently there is a strong need to develop mono-material PE based flexible packaging to fit with existing collection and recycling operations. This collaboration has demonstrated a positive step to contribute to these needs.

Disclaimer

SABIC - Saudi Basic Industries Corporation SJSC published this content on 29 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2020 22:54:00 UTC

09/29/2020 | 06:55pm EST
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Sales 2020 114 B 30 339 M 30 339 M
Net income 2020 2 866 M 764 M 764 M
Net Debt 2020 5 652 M 1 507 M 1 507 M
P/E ratio 2020 803x
Yield 2020 3,20%
Capitalization 289 B 77 032 M 77 036 M
EV / Sales 2020 2,59x
EV / Sales 2021 2,32x
Nbr of Employees 35 000
Free-Float 100,0%
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Number of Analysts 13
Average target price 79,18 SAR
Last Close Price 96,30 SAR
Spread / Highest target -2,39%
Spread / Average Target -17,8%
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Yousef bin Abdullah Al-Benyan Vice Chairman & Chief Executive Officer
Khalid H. Al-Dabbagh Chairman
Timothy D. Leveille Executive Vice President-Corporate Finance
Bob Maughon Executive Vice President-Technology & Innovation
Abdullah Mohammed bin Ibrahim Al-Issa Non-Executive Director
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