Paraphrase this paragraph.SABIC BackgroundSABIC is a global leader in diversified chemicals headquartered in Riyadh, Saudi Arabia. It manufactures on a global scale in the Americas, Europe, Middle East, and the Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high-performance plastics, Agri-nutrients, and metals. SABIC’s principle corporate offices and headquarters are in Riyadh, Saudi Arabia with major industrial operations in the industrial city of Al-Jubail on the Arabian Gulf, as well as in Yanbu on the Red Sea. The Saudi Arabian government owns 70 percent of SABIC shares with the remaining 30 percent publicly traded on the Saudi stock exchange.SABIC began in 1976 by Royal decree and its growth has been nothing short of miraculous. Today, the company has operations in over 50 countries with a global workforce of over 33,000 talented individuals. Fostering innovation and a spirit of ingenuity, SABIC has 11,738 global patent filings and has significant research resources with innovation hubs in five key geographies – USA, Europe, Middle East, South Asia, and North Asia. SABIC supports its customers by identifying and developing opportunities in key end markets such as construction, medical devices, packaging, Agri-nutrients, electrical and electronics, transportation, and clean energy.
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