In July 2002, SABIC commenced operations in Europe after the $2 billion acquisition of the petrochemicals business of Dutch group DSM. SABIC Europe, SABIC's European subsidiary, produces over 2 million tonnes of polymers and over 5 million tonnes of basic chemicals. It employs over 3,000 people and has two major manufacturing locations in Geleen in the Netherlands and Gelsenkirchen in Germany. After forming SABIC Europe, SABIC became the 11th-largest petrochemicals company in the world. The purchase of DSM signified SABIC's intent to expand and become a true global company.