Sabic said it opened two new offices in China to strengthen its position in the Asian country’s fast growing plastics market.

Sabic will open the offices in Beijing and Shenzhen as part of plans to boost its presence “in the world’s most important and fastest growing polymers market,” the company said in a statement.
The move, which comes shortly after Sabic’s acquisition of the US General Electric’s plastics division for $11.6 billion, will bring to four the number of Sabic’s offices in China.
Sabic already has sales offices in Shanghai and Hong Kong, according to the statement.
“Over the next three years most of Sabic’s new petrochemical capacity will be allocated to the rapidly expanding Asian markets, of which China is the most important,” Sabic Chairman Prince Saud bin Abdullah bin Thunayan Al Saud said in the statement.
“China is currently Sabic’s most strategically important export market globally and is also the fastest growing polymers market in the world. The opening of these two new offices reflects our commitment to the long-term growth and future prospects that we see in China.
“Asia is a region where Sabic not only wants to supply products, but is also a region that Sabic regards as a strategically important location for future manufacturing of its products.
“Within the Asia region China is clearly the best location for this manufacturing to take place. The opening of the new offices in China is a sign of the confidence that Sabic places in the economic opportunities in China and strongly supports Sabic’s growth strategy of being among the world’s top three petrochemical companies by 2020,” he said.
Sabic also has warehousing and storage facilities in Shanghai and Hong Kong, and recently opened new facilities in Huangpu and Tianjin, the company said.
Other warehousing and storage facilities are planned at Qingdao, Ningbo and Yantian, Sabic added.
In addition, the company is preparing to open a new bonded liquid chemicals tank at Zhangjiagang, according to the statement.