SELKIRK, N.Y.—Saudi Basic Industries Corp. said it will consolidate three of its technology and innovation operations into its Selkirk facility.
The firm will close its Pittsfield Polymer Processing Development Center, located in Pittsfield, N.Y., and its facility in Exton, Pa.
The moves are expected to be complete in 2017, once necessary modifications are done at the Selkirk site.
“This integration will not only drive important efficiencies, it will also merge material science, process engineering and application development into a collaborative environment that will lead to new innovation breakthroughs,” Awadh Al-Maker, executive vice president, Sabic Technology & Innovation, said in a statement.
Sabic specializes in engineering thermoplastic resins and compounds, such as composites, functional surfaces and substrates, and also offers additive manufacturing solutions, part design, finished parts and materials processing. It serves industries such as mass transportation, health care, displays and electronics, and architectural specialties.
“A collaborative R&D environment will result in a wide variety of problem-solving options for our customers and will accelerate our development cycle,” Thierry Materne, vice president, Technology & Innovation, said in a statement.
The company—headquartered in Riyadh, Saudi Arabia—claims to be the world's third largest diversified chemical company, producing polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and agri-nutrients. It recorded a net profit of $6.2 billion in 2014 and posted sales of $50.2 billion.
Sabic's businesses are grouped into Chemicals, Polymers, Agri-Nutrients, Metals and Innovative Plastics. It has hubs in five regions—the U.S., Europe, Middle East, Southeast Asia and Northeast Asia—operating in more than 50 countries with 40,000 employees worldwide. The Saudi Arabian Government owns 70 percent of Sabic shares with the remaining 30 percent publicly traded on the Saudi stock exchange.