Saudi Basic Industries Corporation (SABIC, PO Box 5101, Riyadh 11422, Saudi Arabia) has announced a major reorganisation of Sabic Marketing Ltd which will enhance customer services by improving coordination between various product marketing departments. The reshuffle focuses on marketing and services by separating sales from marketing and by centralising general services of product distribution and corporate activities. This is being done by creating two new senior positions of Vice President Marketing and Vice President Sales in addition to the existing position of Executive Vice President. The changes also include eight posts of Assistant Vice President for various core business activities and their support services. Sabic's Vice Chairman and Managing Director Ibrahim A. Ibn Salamah will continue as Chairman of Sabic Marketing, Abdullah S. Nojaidi as President and Saad A. Al-Sayyari as Executive Vice President. Announcing the organisational reshuffle, Nojaidi said: "These changes are aimed at streamlining Sabic's marketing and sales operations which have expanded enormously in recent times. They are designed to improve internal efficiency as well as our customer services worldwide." – Further details: PIE-No. 36649.

In this context: Official details on the privatisation of Sabic remain scarce, yet press reports have given an initial indication of how the process may proceed. According to the "Al-Eqtisadiah" newspaper in London, Saudi industry and electricity minister Abdul-Aziz al-Zamil said the government, which currently holds 70% of Sabic, plans to keep 25% of the group and sell the remainder to the private sector in Saudi Arabia and other Gulf Arab states. The process "will take place in stages where each time 10% would be offered until we reach the percentage that the government wants to privatise," said Zamil.