Did RXO buy UPS?
Yes, SABIC (Saudi Basic Industries Corporation) acquired the Plastics division of General Electric in a major transaction finalized on May 21, 2007. The deal was valued at approximately US11.6billion,whichincludedUS8.7 billion in liabilities. Following this acquisition, the company established a new entity named SABIC Innovative Plastics to manage the assets and technologies acquired from the GE business unit, marking a significant step in SABIC's global industrial expansion strategy.
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