Ratings agency Moody's assigned the bond an A+ rating and said it understood it would be used to refinance or repay debt at Sabic Innovative Plastics Holding, the renamed GE Plastics
. Sabic Innovative Plastics raised $1.5 billion from a bond issue in August 2007.
"This is mainly due to the consolidation of Sabic Innovative Plastics (formerly GE Plastics
A company controlled by the Sandi royal family has completed its $11.6 billion purchase of GE Plastics
from General Electric.
Brian Gladden, chief executive officer of the former GE Plastics
, will serve as the CEO of SABIC Innovative Plastics.
GE, Fairfield, Conn., has announced a definitive agreement to sell its GE Plastics
division to Saudi Basic Industries Corporation (SABIC) for an announced value of $11.6 billion in cash, plus the assumption of liabilities.
has installed a high-temperature melt spinning fiber line supplied by Hills, Inc., at its world-class Polymer Processing Development Center (PPDC) in Pittsfield, MA.
has added conductive Noryl GTX resins to its ecomagination product portfolio.
has expanded its ecomagination[TM] new patent-pending, high-performance Lexan[TM] polycarbonate (PC) film that can prevent condensation on the doors of refrigerated and frozen food glass door cases without the need to heat the glass.
A range of engineering resins and a new lightweight thermoplastic composite from GE Plastics
, Pittsfield, Mass., are employed in the body panels and glazing of General Motors' latest concept vehicle, the new Chevrolet Volt.
"We are very pleased with the results, especially in the other ways that GE Plastics
demonstrated its value as a materials supplier," said Yukio Taniguchi, Pentax group leader.
Presentations will include: "Choosing a polymer for medical devices--biocompatibility considerations," David Thaler, Mednet GmbH, Germany; and "Material selection for medical device applications," Rob de Jong, GE Plastics
, the Netherlands.
What It Is: A pair of resins produced with polybutylene terephthalate (PBT) polymers that are derived from 85% post-consumer plastic waste (e.g., soda bottles), Valox iQ and Xenoy iQ, from GE Plastics
(Pittsfield, MA; www.geplastics.com).