Oman-based Octal Petrochemicals is aiming for sales of $200 million to Europe this year as it prepares to attend the world’s largest event for the packaging industry in April.

A subsidiary of Octal Holding and Co. SAOC, Octal now earns more than half of its revenue from exports to Europe, said an official spokesman.

Octal will be a first-time exhibitor at Interpack, which takes place in Dusseldorf, Germany from April 24 to 30. Octal will display the efficiency of its integrated PET resin and APET sheet manufacturing facility, located in Salalah Free Zone.

Visitors to the 350 square-metre stand will be able to see and order both Octal’s PET resin and the APET sheet product, which will be displayed in roll form.

“We are experiencing strong demand from the UK, Germany, the Benelux countries and Southern Europe, and the potential for growth across the European continent is significant. That is why we are making such a large investment in Interpack, of around $300,000. We are delighted to be flying the flag for the Oman petrochemicals industry and Salalah Free Zone with one of the exhibition’s largest stands,” said director of Octal Petrochemicals Rashid Saif Al Sadi.

Octal expects total sales of its APET (amorphous polyethylene terephthalate) sheet packaging and PET resin to reach $500 million per annum by the end of 2008, around one fifth of the world market for APET, and to achieve a solid position in the growing European PET industry.

Octal, which is investing $300 million in proprietary technology and custom engineered production lines to manufacture both PET resin and APET rigid films, started initial operations in December 2006. Global monthly sales currently exceed $3.5 million, a reflection of the growth in convenience food packaging and the increasing use of clear rigid packaging for consumer products.

Octal’s plant is the first of its kind to be developed that is dedicated to APET production from resin to sheet. Sophisticated equipment developed by Octal delivers an APET sheet with superior gauge control, gloss and transparency, factors which save on production costs. The uniformity of Octal’s PET resin is another cost advantage. 

“The growth of APET as a packaging material has been strong.  In fact, global trends show that there is a three to four million metric ton market in the making. We aim to deliver the highest quality and most consistent APET sheet to our thermoforming, brand and retailer partners, enabling them to achieve the highest level of productivity and yield. The PET market is also growing rapidly, that’s why we are positioning ourselves as the largest PET manufacturer in the Middle East,” said managing director of Octal Nicholas Barakat.

Interpack 2008 will showcase all components of the packaging industry: from the production and refinement of packaging products and packaging materials, to quality assurance and consumer protection, to processes and machinery for the packaging of all product types including food and drinks, pharmaceuticals, cosmetics, consumer and industrial goods. Interpack is expected to attract around 300,000 visitors this year. – TradeArabia News Service