Core Viewpoint - Saudi Basic Industries Corporation (SABIC) has seen its stock price drop to a 16-year low in Riyadh following asset sales in Europe and the U.S. to downsize its operations, focusing on domestic and Asian markets instead [1] Group 1: Company Performance - SABIC's decision to sell assets is a response to weak profit margins that have negatively impacted the entire industry [1] - The company has historically benefited from low-cost domestic raw material supplies, but demand has been eroded by slow growth in major economies [1] - High energy costs in Europe have severely affected local factories, prompting SABIC to reduce its business scale [1] Group 2: Industry Context - Middle Eastern countries are seeking to expand their economies by strengthening manufacturing and other sectors to reduce reliance on oil sales [1] - The United Arab Emirates is actively expanding in the global chemical sector, exemplified by the acquisition of German company Covestro by Abu Dhabi National Oil Company's investment arm, XRG, last year [1]
沙特化工巨头Sabic剥离欧美资产 股价创新低
Ge Long Hui A P P·2026-01-08 08:59