Wednesday, September 05, 2007

GE completes sale of plastics business

General Electric Co. has completed the US$11.6 bln sale of its plastics division to Saudi Basic Industries Corp. (SABIC). In recent years, GE Plastics' performance results have afflicted by the rising costs of natural gas and raw materials since 2004. Profits for the division fell by 22% to US$674 mln in 2006.

For more details please click on the following link
http://plastemart.com/plasticnews_desc.asp?news_id=10786&P=P

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