the Forbes Global 2000 list. As of 2014, SABIC Innovative Plastics is a multibillion-dollar company with operations in more than 25 countries and over 9,500 employees worldwide. In July 2009, SABIC received approval from the Chinese government to build a billion petrochemical complex in China, in order to gain a foothold in the world's fastest-growing chemicals market. In January 2018, SABIC announced that it had acquired a 24.99% stake in Clariant, the Swiss specialty chemical manufacturer. The stake was acquired from activist investor White Tale, and at Clariant's prevailing market-capitalisation would have been valued in the region of $2.4bn. The actual transaction price was undisclosed. SABIC CEO Yousef Al-Benyan had previously stated, in November 2017, that the company was looking to spend $3bn-$10bn on acquisitions over the next 10 years. On March 27, 2019, SABIC announced that state-owned energy company Saudi Aramco signed a share purchase agreement to acquire a 70% majority stake in SABIC from the Public Investment Fund of Saudi Arabia in a private transaction worth $69.1 billion. The transaction was completed in June 2020. Production and major expansions Expansion operations and investments are projected to amount to billion in 2007 and billion until 2020. The overall total production in 1985 was 6.3 million metric tons; by the end of 2008 it had reached 56 million metric tons. By 2020, SABIC intends to produce over 135 million metric tons per year. Financial performance Net profits of SABIC in 2008 touched billion ( billion), while total assets stood at billion ( billion) at the end of 2008 and the value of current assets at the end of 2008 stood at billion ( billion). The Fortune 500 ranking set SABIC revenues as of $40.2 billion. SABIC reported preliminary consolidated financial results for the period ended September 30, 2010. Net income for the third quarter of 2010 was billion, compared to net income of billion in the same period the previous year, representing an increase of 46 percent and compared to billion for the previous quarter, a rise of 6 percent. According to the 2019 Fortune Global 500 list, SABIC reported $45.1 billion in revenues and $5.7 billion in profits for the 2018-2019 FY, ranking it in fourth place among chemical companies and #252 in the list. Subsidiaries Hadeed Ibn Sina Saudi-European Petrochemical Company (Ibn Zahr) Saudi Carbon Fiber Company Saudi Petrochemical Company (Sadaf) National Industrial Gases Co (Gas) Petrokemya Kemya