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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 launches innovative TF-BOPE FILM for frozen food packaging

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09/22/2020 | 04:19am EDT

SABIC, a global leader in diversified chemicals, has launched a sustainable packaging solution for frozen food which combines a new polyethylene (PE) grade with innovative film production technology. Compared to conventional blow PE film solutions, it offers significantly higher throughput and also has potential for down-gauging, making it attractive from both a commercial and sustainability standpoint.

The solution is based on a mono web TF-BOPE film structure which has a thickness of only 20 micrometers - an unprecedented benefit in this market. This thin gauge provides a potential packaging material reduction of approximately 35-50% compared to incumbent blown PE film. The reduced thickness of the packaging solution minimizes environmental impact and supports brand owners and retailers who are aiming to reduce their packaging material consumption. The new packaging solution is also 100% recyclable and fits mono-PE recycling streams.

This innovative packaging solution for frozen food is the result of SABIC's close collaboration with film suppliers/extruders Ticinoplast and Plastchim-T, as well as packaging machine manufacturer Syntegon Technology.

Stephan Eltink, SABIC's Business Director for PE in Europe, said, 'At SABIC, we focus on delivering sustainable solutions and working collaboratively with our customers to help them achieve their ambitions and solve key industry challenges. By working closely with Ticinoplast, Plastchim-T and Syntegon, and by leveraging our innovation together, we have been able to introduce a new solution to the market that allows for more sustainable packaging without any compromise on productivity and consumer convenience.'

Pierre Hamelink, Syntegon's Director of Business, Market and Sustainability Strategy, said: 'This innovative packaging solution demonstrates the true value of collaboration. Stakeholders throughout the supply chain have had to work together to bring this to life: sustainability cannot be achieved single-handedly.' He added: 'Our research and development efforts are driven by our mission to deliver sustainability - without compromise. Our new PHS 2.0 sealing technology can process thinner films whilst offering the same level of sealing quality, product protection and processing speed as conventional sealing technologies. When replacing composite packaging materials on new and existing Syntegon machines with films made of SABIC's BOPE, brand owners benefit from even more material and cost savings.'

TF-BOPE film made of SABIC® LLDPE BX202 material offers tear direction and low tear strength provides an easy unidirectional opening. Compared to conventional solutions, it offers much better visibility of packaged products due to higher light transmission and lower haze. Meanwhile the high gloss delivers first-class design and aesthetics.

The 20 micrometer thin film was successfully tested on Syntegon's vertical form, fill and seal machines, which feature the newly-developed PHS 2.0 sealing technology. This technology reduces the amount of clamped film by 25 percent and increases packaging speed by up to 25 percent. The thin TF-BOPE film also requires less cooling time which increases packaging speed even more. During the evaluations, a constant speed of 130 bags per minute was achieved.

For packers, TF-BOPE film delivers a robust sealing performance and increased productivity resulting from improved packaging speed. The thin gauge results in increased film roll efficiency which reduces logistic handling, storage space and transport costs.

For converters and brand owners, SABIC's TF-BOPE film material offers a wide range of benefits that include good printability, cost-saving opportunities, higher yield, less consumption of plastic materials and lower packaging taxes due to reduced material consumption. It further reduces the package weight to product weight ratio, resulting in a more optimized packaging design.

The TF-BOPE film is based on SABIC© LLDPE BX202 grade, which is available globally. TF-BOPE stands for Tenter Frame Biaxially Oriented Polyethylene. This is a PE grade that can run in tenter frame machines traditionally used to make Biaxially Oriented Polypropylene (BOPP) film. TF-BOPE has the potential to be used in new applications and markets which support the circular economy, where mono material solutions are required to enhance recyclability. TF-BOPE can replace multi material laminates into a mono-PE structure.

SABIC® TF -BOPE polymer is part of the 'Design for Recyclability' under TRUCIRCLE™ solutions supports easy and full recyclability through enabling mono-PE material structure in multilayer tenter frame of flexible packaging, aiming to minimize waste. This new product can be also available as certified circular polymer from the company's TRUCIRCLE™ portfolio. At SABIC, the TRUCIRCLE™ initiative encompasses the company's circular materials and technologies, which include certified circular polymers from the chemical recycling of mixed plastic waste and certified renewable polymers based on bio-based renewable feedstock.

Disclaimer

SABIC - Saudi Basic Industries Corporation SJSC published this content on 22 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2020 08:19:03 UTC


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Financials
Sales 2020 115 B 30 766 M 30 766 M
Net income 2020 3 496 M 932 M 932 M
Net Debt 2020 14 522 M 3 872 M 3 872 M
P/E ratio 2020 162x
Yield 2020 3,39%
Capitalization 291 B 77 668 M 77 674 M
EV / Sales 2020 2,65x
EV / Sales 2021 2,39x
Nbr of Employees 35 000
Free-Float 100%
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Mean consensus UNDERPERFORM
Number of Analysts 13
Average target price 76,62 SAR
Last Close Price 97,10 SAR
Spread / Highest target -3,19%
Spread / Average Target -21,1%
Spread / Lowest Target -44,4%
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NameTitle
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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