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Boston Consulting Group hands SABIC '2013 Global Challenger' Award

May 07
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Boston Consulting Group hands SABIC '2013 Global Challenger'...

The Boston Consulting Group (BCG) has announced that it has awarded its 2013 Global Challengers' Award to Saudi Basic Industries Corporation (SABIC) for its globalisation achievements.

SABIC was presented with the award at an official ceremony at its headquarters in Riyadh.

Upon receiving the award, vice chairman and chief executive officer of SABIC Mohamed Al-Mady said: “SABIC has become a cornerstone not only of the Kingdom’s [Saudi Arabia] economy, but has come to play an instrumental role in the global playing field. We are honoured to be recognised by BCG for our contribution to the industry and the global economy, and will continue to grow our business in the methodical and strategic way that has characterised our development to date.”

Thomas Bradtke, partner and managing director of BCG, said that he expected SABIC to increase its presence in global markets over the next few years while enhancing its capability for further growth.

Ever since the year 2006, BCG has been identifying the top 100 emerging market companies that have experienced the most development and shown potential for reshaping industries and surpassing multinational organisations.

All of the firms identified are placed into BCG's Global Challenger list, compiled by the

Global Advantage practice area, and is based on a comprehensive review of thousands of companies from emerging markets.

The screening process also measures the size of each company in relation to competitors within their respective industries.

Other aspects that are analysed include a company's international presence, the number and size of investments made on a global scale, as well as the perceived strength of its business model.

Organisations that only pursue low- end export-driven business, are excluded from consideration.

Over the last five years, companies in the list have created a total of 1.4 million jobs, while in 2011, each firm had recorded an average revenue of $26.5 billion.

The year also saw companies purchase over $1.7 trillion in goods and services, while investment on capital expenditures reached $330 billion.

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