Equate annual sales increase 300pc
Kuwait City, April 10, 2012
Equate Petrochemical Company announced that its annual sales to local Kuwaiti plastic manufacturers have increased by over 300 per cent from 1998 to 2011.
During Equate’s recently held Annual Local Customers Gathering, Mohammad Husain, president & CEO, Equate, said: “Local customers have Equate’s unwavering commitment and dedication to ensure the success of their endeavors to reflect Equate’s tagline of ‘Partners in Success’.”
“The plastic conversion industry is projected to have great prospects if it is positioned properly within the value-chain and optimised its operations to be more export oriented,” he said.
Muayad Al-Faresi, business director, Polyethylene, said: “Throughout 1998 to 2011, the volume of local sales has increased from 11,000 metric tonnnes annually (MTA) to over 40,000 MTA in 2011 with a value of over $30 million.”
“As you play a critical role in Kuwait’s overall sustainability and industrial growth, EQUATE has special interest in local customers through extending all necessary support to ensure the development of Kuwaiti downstream industries for an even brighter future and sustainable growth.”
As part of the event, the company presented attendees with a market overview of the petrochemical industry’s trends and developments.
Hosting over 30 local customers, the gathering was also attended by senior members of the management.
Established in 1995, Equate is an international joint venture between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC).
Commencing production in 1997, Equate is the single operator of a fully integrated world-scale manufacturing facility producing over 5 million tonnes annually of high-quality petrochemical products which are marketed throughout the Middle East, Asia, Africa and Europe. – TradeArabia News Service