ABB, Sabic sign agreement drive chemical industry innovation

ABB, Sabic sign agreement to drive chemical industry innovation

9:42 AM, 3rd March 2018
ABB, Sabic sign agreement to drive chemical industry innovation
ABB and SABIC sign a memorandum of understanding

RIYADH, SAUDI ARABIA: ABB Limited and Sabic have signed a new global cooperation agreement to focus on 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 percent per annum.

The Home of Innovation is a Sabic growth initiative. This undertaking combines marketing, innovation and technology to create demand and grows 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 (MoU) was signed by Sabic’s Uwaidh Al-Harthi, executive vice president of innovation & business development, and Peter Terwiesch, president, industrial automation division and member of the group executive committee of ABB Limited.

This partnership gives Sabic greater access to ABB’s integrated industrial internet offering and cloud infrastructure. This technological platform, which is known as ABB Ability and is proven across a wide range of technologies and industries, makes it easier for companies to harness the power of industrial data to improve decision-making.

“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," said Al-Harthi.

“We are pleased to have this coalition with Sabic which is in line with our strategy to increase customer focus. ABB will combine its own advanced technologies and solutions with Sabic’s industry expertise to pave the way for new global growth opportunities within the chemical industry. This kind of information sharing will foster long-term stability and help create reliable, safe, efficient and digital-ready facilities of the future," said Terwiesch.

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