ABB and Sabic have signed a new cooperation agreement to focus on global strategic framework for healthy development of high-technology industries and potential technology ventures across the world. Strengthening their existing relationship at strategic and working levels enables them to use their combined experience to develop next generation solutions for a market currently growing at 16 % per annum.
The Home of Innovation is a Sabic growth initiative. This undertaking combines marketing, innovation and technology to create demand and grow business on a local, regional and global level. It connects Sabic with industry-leading companies to identify market needs and develop the groundbreaking solutions that answer them.
The memorandum of understanding was signed by Sabic’s Uwaidh Al-Harthi, Executive Vice President of Innovation & Business Development, and Peter Terwiesch, President, Industrial Automation division, ABB. “This agreement is an important step in achieving Sabic‘s passion to support the national transformation program, and Saudi Vision 2030. ABB’s deep technology expertise will play a formative role in nurturing this technological development,“ says Al-Harthi.
“Sabic is one of the world’s biggest chemical players, through this strategic partnership with Sabic we aim to develop next-generation solutions for the chemical industry. Demand for digitalisation, automation and robotics is continuing to grow in this sector ” explains Colin Ward, Head of Chemical and Refining business, ABB Ltd. “Our extensive ABB Ability digital solutions and deep industry knowledge means we are well positioned to create significant business value for new and existing customers.”