A vestige of the old General Electric Plastics will soon fade away. Saudi Basic Industries Corp. is folding its SABIC Innovative Plastics subsidiary into its chemicals and polymers business and shuttering SABIC IP’s Pittsfield, Mass., headquarters. SABIC IP, which makes engineering polymers such as polycarbonate and polyphenylene oxide, had been GE Plastics until SABIC purchased it in 2007. The Saudi firm is relocating personnel to the Houston area, home of its U.S. headquarters. It expects to complete the closure and relocation next year.