The European Commission has set August 3 as a deadline for its inquiry into Saudi petrochemicals manufacturer Saudi Basic Industries Corp (SABIC)'s proposed US$11.6 bln acquisition of General Electric Co's plastics division.
GE Plastics witnessed a fall in profits by 22% in 2006 to US$674 mln. The company struggled since 2004 due to rising costs of natural gas and raw materials.
06-Jul-07 
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