GE Plastics changing name to Sabic Innovative Plastics
Canadian Plastics
Canadian PlasticsGE Plastics will change its name to Sabic Innovative Plastics by the end of the summer, according to reports.
GE Plastics will change its name to Sabic Innovative Plastics by the end of the summer, according to reports.
The name change is expected to become official sometime in September.
After a profit decline of 22 per cent from the previous year, GE Plastics was sold to Saudi Arabian-owned petrochemical firm Saudi Basic Industries Corp in May 2007 for US$11.6 billion.
The name change reflects a corporate shake up, as well. Charlene Begley, GE Plastics’ CEO, will step down from her position to assume a corporate role within GE. Brian T. Gladden, currently the head of GE Plastics resins business, will replace her, serving as president and CEO of Sabic Innovative Plastics.
