Sabic seeks agency for global ad brief

Saudi Basic Industries Corporation, the seventh-largest petrochemical company in the world, is looking for a London-based network agency.

It is in talks with Grey and McCann Erickson about its global advertising account, which is worth £10 million.

The successful agency will be briefed with building the Sabic brand as it bids to extend its reach around the globe. It is also attempting to build both business and consumer awareness of its various companies and brands.

In 2004, the company attempted to find a global network partner, but failed to make an appointment.

In December last year, Sabic announced that it was investing more than £4 billion into expansion plans for ventures and acquisitions.

It is estimated that more than 80 per cent of petrochemical exports from the Arabian Gulf region are produced and shipped by Sabic.

The company is also the second-largest producer of ethylene glycol and methanol, and one of the biggest producers of polyethylene, polypropylene and polymers.