Louisiana Basic Industries history

Construction on that company, as well as the SADAF site, began in 1980.

1981: Holdernam Inc., a subsidiary of Holderbank, forms its own subsidiary, Holnam Inc.

The first of SABIC's businesses to begin actual production was HADEED, which began producing steel products in 1982.

1983: The company exports chemical-grade methanol for the first time.

1984: SABIC is listed on the Saudi stock exchange, although the government maintains a 70 percent stake.

In 1986 Holderbank reportedly paid nearly $110 million for a 66 percent interest in the struggling Denver-based Ideal Basic Industries.

During this time, the company terminated its relationship with BoxCrow Cement Company, a Texas-based company whose business and assets Holnam had acquired with an option to purchase before the merger in 1989.

In 1991, forming a committee to work in cooperation with a consulting firm, Holnam studied the market, seeking ways to make the company profitable.

1993: The company opens a marketing office in New Delhi, India.

1997: The company opens its first foreign research and technology center in Houston, Texas; the company is restructured into five Strategic Business Units.

Holnam also looked at plans in 1999 to double the capacity of its cement plant in Holly Hills, South Carolina.

SABIC found a new market of a different sort in 2002, however.

2004: A new $2 billion Jubail United Petrochemicals plant is slated to come on stream.