SABIC Opens Multi- Million-dollar ULTEM™ Resin Manufacturing Facility In Singapore To Meet Growing Demand In Asia-Pacific
The facility caters to high-tech end-user industries, such as Aerospace, Healthcare, 5G, Artificial Intelligence (AI) and Electric Vehicles (EV)
SINGAPORE - Media OutReach Newswire - 7 November 2024 - SABIC, a global diversified chemicals company, today announced the official launch of its new US$170 (S$220) million ULTEM™ resin manufacturing facility in Singapore, marking the company's first advanced specialty chemical manufacturing facility in the region producing the high-performance thermoplastic, ULTEM™ resin.The new facility is a strategic move to support SABIC's goal of increasing global ULTEM™ specialty resin production by more than 50%, responding to the growing demand from high-tech and manufacturing industries in the Asia-Pacific region, including Japan and China.
The facility opening was officiated by Ms. Low Yen Ling, Senior Minister of State for the Ministry of Trade and Industry (MTI) and Ministry of Culture, Community and Youth (MCCY), Eng. Khalid H. Al-Dabbagh, Chairman of the Board of Directors of SABIC, Eng. Abdulrahman Al-Fageeh, SABIC Chief Executive Officer, and Mr. Omar Al-Harthi, Deputy Head of Mission, Embassy of the Kingdom of Saudi Arabia in Singapore.
Supported by the Singapore Economic Development Board (EDB), the new Singapore facility reinforces SABIC's commitment to localize a reliable supply of high performance materials that support complex and demanding supply chain requirements.
Ms. Low Yen Ling, Senior Minister of State for the Ministry of Trade and Industry (MTI) and Ministry of Culture, Community and Youth (MCCY) said, "The opening of SABIC's new facility underscores Singapore's role as a leading hub in the Energy & Chemicals sector, and positions us to meet the rapidly evolving demands of high-tech industries across Asia."
Eng. Abdulrahman Al-Fageeh, CEO, SABIC said, "We're excited to leverage SABIC's advanced manufacturing capabilities to produce one of the world's most advanced plastics in Singapore. The ULTEM resin facility reflects our long-term commitment to the region's high-tech economies and advanced manufacturing sectors, supporting the growth of advanced applications. Singapore's widely networked trade agreements also provides us with competitive access to markets in the region."
Lim Wey Len, Executive Vice President, Singapore Economic Development Board said, "The opening of SABIC's new ULTEM plant reflects its confidence in Singapore as a hub to capture the growing demand for high-performance specialty chemicals in Asia. We look forward to how the new plant's advanced manufacturing capabilities will boost our chemicals sector to meet customers' needs in growth areas such as mobility and electronics. We continue to welcome like-minded partners like SABIC to invest in our talent and capabilities here in Singapore, to create cutting edge material solutions for the world."
SABIC's role in Singapore
SABIC has empowered its workforce by enabling global knowledge transfer and upskilling local talent to effectively manage the production of one of the most technologically advanced plastics in the world. This holistic approach to the expansion integrates human capital development and leverages global expertise to establish an Asian hub built on a foundation of regional talent.
SABIC's advanced materials have become integral to Singapore's leadership in sustainable, high-tech manufacturing, extending to the automotive, healthcare, and telecommunications sectors through application of high-performance ULTEM™ resin.
With strong support from the Singapore government, the new facility benefits from the nation's strategic position as a regional hub and its extensive free trade agreements network, enabling SABIC to efficiently serve the region.
The issuer is solely responsible for the content of this announcement.
About SABIC
SABIC is a global diversified chemicals company, headquartered in Riyadh, Saudi Arabia. It manufactures on a global scale in the Americas, Europe, Middle East and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high-performance plastics, and agri-nutrients.
SABIC supports its customers by identifying opportunities and developing end-use applications in key industries: Mobility, Hygiene & Healthcare, Electrical & Electronics, Packaging, Agriculture, Consumer Products, and Building & Construction.
The company has close to 31,000 employees worldwide, serving customers in more than 140 countries. Fostering innovation and a spirit of ingenuity, SABIC has nearly 11,000 patents and pending applications, and has a global network of technology & innovation centers
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