Saudi Basic Industries Corporation (SABIC) has confirmed plans to merge subsidiaries Saudi Petrochemical Company (SADAF) and Arabian Petrochemical Company (Petrokemya) as part of an operational excellence move.The relevant regulatory approvals has been taken, the merger will mean SADAF will cease to be a legal entity.Founded in 1980 and based in Jubail, SADAF produces ethylene, styrene, caustic soda, crude industrial ethanol and other petrochemical products. It is expected that the merger will be completed in the second half of this year, but will not have an impact on SABIC’s financial position.
