It's All About the Benzene Man.

GE this month sold its storied plastics division for $11.6 billion to Saudi Basic Industries Corp., said Padraic Cassidy in Marketwatch.com. Both Jeffrey Immelt and Jack Welch, GE's current and former CEOs, cut their managerial teeth in the plastics business, which has suffered in recent years because of the rising price of benzene, a key raw material. "The Saudi company stands to benefit from its position in its oil-producing home country, which can supply cheap benzene."

From The Week.
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