Kuwait, July 24, 2019 – The EQUATE Petrochemical Company became part of the Alliance to End Plastic Waste (AEPW) on July 10, 2019, joining 11 other new members with a shared vision of developing and bringing to scale solutions to help eliminate plastic waste in the environment.

Dr. Ramesh Ramachandran, EQUATE Group President and CEO, said the membership marks a milestone in EQUATE’s journey to create a more sustainable global and local environment.

“Joining the Alliance helps to amplify our efforts to bring solutions to address a global need,” he said. “We have joined a strong team composed of the world’s top minds from across the entire plastics value chain and we look forward to being a part of the positive impact this organization is going to have for generations to come.”

“We strongly believe that partnerships across government, industry and communities will be the key to addressing the long-term need to end plastic waste, while still recognizing the critical importance of plastic in improving the lives of billions,” Ramachandran added.

Naser Al-Dousairi, Senior Vice President of The EQUATE Group, noted that “EQUATE is already active in this space, addressing the issue of plastics waste through both the company’s products and opportunities for action in local communities.  Equipolymers, an EQUATE subsidiary, was the first company to innovate a chemically-recycled polyethylene terephthalate (PET), also, Viridis 25 uses 25% recycled plastic material and is clearly pushing the envelope in recycled plastic production through partnerships with other innovative companies such as Coca-Cola.”

EQUATE is also investing efforts in individuals and organizations to promote recycling, by partnering with community groups, industry and government to raise awareness on the importance of recycling and correctly recycle PET.

The alliance members have developed together a global vision and a comprehensive integrated strategy focusing on 4 key action pillars: Infrastructure development to collect and manage waste and increase recycling; Innovation to advance and scale new technologies that minimize waste; Education and engagement of governments at all levels, businesses, and communities to mobilize action; and, Clean up of concentrated areas of plastic waste already in the environment.

Launched in January 2019 with 27 founding members, the Alliance now includes 39 companies around the world that make, use, sell, process, collect, and recycle plastics. This includes chemical and plastic manufacturers, consumer goods companies, retailers, converters, and waste management companies. Member companies have committed over $1.0 billion with the goal of investing $1.5 billion over the next five years to help end plastic waste in the environment. The World Business Council for Sustainable Development is a founding strategic partner.

For more information about EQUATE’s commitment to sustainability, visit https://www.equate.com/sustainability-strategy/

About EQUATE Group:

The EQUATE group (comprising EQUATE Petrochemical Company K.S.C.C., its subsidiaries, and The Kuwait Olefins Company K.S.C.C.) (the “EQUATE Group” or the “Group”) is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The Group’s products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.

Kuwait, July 22 2019 – The EQUATE Group, a global producer of petrochemicals, participated in the Voluntary National Review (VNR) of the State of Kuwait held during the United Nations’ High-Level Political Forum On Sustainable Development in New York, showcasing the Company’s investments and initiatives in supporting sustainable development.

Commenting on the Company’s participation in the Forum, EQUATE Group President and CEO, Dr. Ramesh Ramachandran, said: “On behalf of EQUATE, I extend our sincere gratitude to the General Secretariat of the Supreme Council for Planning and Development for choosing our Company to represent the State of Kuwait at the Forum. We are proud at EQUATE of the milestones we’ve achieved in our Sustainability Strategy and in partnership with public and private organizations around the world.”

Speaking on behalf of the Company was Senior Executive for Corporate Communications & Government Affairs, Dr. Abeer Al-Omar, who is a member in the Permanent National Guiding Committee of the State of Kuwait.

She said: “We believe that the long-term growth of any organization is interlinked with sustainability, this is why we have aligned our strategy with the UN Sustainable Development Goals and the New Kuwait 2035 vision, aiming to contribute to economic welfare, social wellbeing and environmental preservation.”

Economically, EQUATE Group contributes to over 60% of Kuwait’s export and economic growth value from non-oil sources, and invested over USD 1 billion in the past five years in the local private sector and a similar amount in payrolls, funneling it back into the economy.

In terms of solutions and innovations, EQUATE established Kuwait’s first CO2 Recovery Plant, and invested in its own innovations, such as Viridis 25, a new plastic bottle that uses up to 25% recycled plastic, which will be commercially available in the next couple of months.

From its long-standing commitment to environmental preservation, EQUATE joined forces with ‘The Alliance to End Plastic Waste’ on July 8^th to end plastic waste by promoting infrastructure, education and engagement, innovation, and cleanup efforts. We also give equal importance to life on land and under water through our tree-planting initiatives in China and the conservation of the Ellis Bird Farm in Canada.

In terms of  social sustainability, The Company has also pledged commitment to the United Nations (UN) Women’s Empowerment Principles (WEPs) statement and subsequently launched its ELEVATE program which promotes gender equality. In addition to investing in education and development of engineers.

For more information about EQUATE’s commitment to sustainability, visit https://www.equate.com/en/Sustainability.html.

About EQUATE Group:

The EQUATE group (comprising EQUATE Petrochemical Company K.S.C.C., its subsidiaries, and The Kuwait Olefins Company K.S.C.C.) (the “EQUATE Group” or the “Group”) is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The Group’s products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.

“The support I receive from my supervisors and other employees has enabled me to excel in my work here at EQUATE. Everyone here has a drive for team work. I am very proud to call myself an EQUATEr.”

“Working for EQUATE has been a dream come true. We have a great team and everyone is continuously striving to learn more and challenge one another to become better.”

Kuwait, April 22, 2019 – The EQUATE Group, a global producer of petrochemicals, is sponsoring the preservation efforts of Gulf cultural and artistic heritage at Kuwait’s iconic Sadu House which inspires its name from its mission to preserve the ethnic handicrafts of bedouins also known as Sadu hand weaving.

The five-year sponsorship will see EQUATE support the newly established Sadi Studio, an initiative by Sadu House that attracts young artists from the region in an aim to revive the art of Sadu weaving through their works and promote its cultural significance in the history of Gulf states.

Speaking of the EQUATE Group sustainability strategy, Senior Executive for Corporate Communications & Government Affairs, Dr. Abeer Al-Omar, said: “Our focus at EQUATE is to invest in economic, educational and environmental programs that take us a step forward towards achieving the sustainability goals we aim for, such as the Sadi Studio initiative that supports the revitalization of cultural heritage.”

Speaking at the launch event of Sadi Studio, EQUATE Sustainability Committee Member, Fatemah Al-Faresi, said: “Sadu House is one of the very few museums and cultural centers that preserves the local cultural heritage in Kuwait. We look forward to seeing young artists connect our past to our present and aspired future, and invite our local community to take part in this rich experience at Sadi Studio.”

Commenting on the partnership with EQUATE, Sadu House Chairperson, Sheikha Bibi Duaij Al-Jaber Al-Ali, said: “Sadi Studio brings artists in an innovative platform that inspires from the heritage of weaving and traditional arts, an initiative that we hope will preserve what was once a significant source of living in Kuwait and the rest of the Gulf. We thank EQUATE for their generous sponsorship and look forward to continue working together.”

EQUATE aligns its sustainability and community involvement strategy with the UNDP Sustainable Development Goals (SDG) and Kuwait’s 2035 Vision. As part of this strategy, the Group extends its support to various segments of the community and has previously partnered with the Kuwait Blind Association to help establish a youth center for the blind.

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com.

Kuwait, March 18, 2019 — The EQUATE Group is taking employee equality and diversity to new heights, launching its “ELEVATE” program within the Group’s companies around the world and the community at large. The program is sponsored by EQUATE CEO and President Dr. Ramesh Ramachandran and endorsed by the EQUATE Management Team.

“ELEVATE” is part of EQUATE’s continued investment in its human capital as a driver for its sustainability strategy, which  aligns with the United Nation’s Sustainable Development Goals (SDG) and the New Kuwait 2035 vision.  . The launch was held on International Women’s Day March 8 and provided all global employees with the opportunity to recognize and celebrate of the women in their lives and the women of  EQUATE.

Explaining the program’s goal, EQUATE Senior Executive for Corporate Communications & Government Affairs, Dr. Abeer Al-Omar, said: “At EQUATE, we are reaffirming out commitment to equality and diversity within our group and will be sharing our learnings with our communities. We aim to achieve our goals by identifying opportunities and encouraging a better understanding to the contribution of a sound diversity policy generates ideas, conversations, and can lead to greater mobility and prosperity in line with the overall business objectives.”

“ELEVATE” is another example of a program supported by the EQUATE Group that demonstrates its commitment to sustainability, partnering with public and private bodies, including employees, the society and customers in the fields of human development, environment, education, health, as well as public awareness.

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.

Kuwait, February 21, 2019 – EQUATE, a global producer of petrochemicals and the second largest producer of Ethylene Glycol worldwide, continues to take part of initiatives and programs as part of its commitment to industrial and professional development, and technological and operational innovations that aim to advance the standards of environment, health, safety, and security in the oil, gas and petrochemical industries.

In these endeavors, The Company was a main sponsor and participant of the third Kuwait International Health, Safety, Security & Environment (KIHSSE) Conference and Exhibition, the flagship event that has become an international platform dedicated to enhancing the culture of safety and serving the industry, community, academic institutions and non-profit organizations.

Held under the patronage of Dr. Khaled Al-Fadhel, Minister of Oil, Minister of Electricity and Water and Chairman of the Board of Kuwait Petroleum Corporation (KPC) and organized by KPC, KIHSSE focused this year on the theme “Transforming HSE Culture for a Resilient Future” in an aim to attain business excellence in the practice of HSSE.

Stressing on how HSSE commitment is key to reliability and better performance, field in which EQUATE excels, four of the Company’s engineers conducted sessions on sustaining a culture of HSSE, Industrial Security and Occupational Health, as well as gave an outlook on the field.

Also speaking in the conference, Mohammad Al-Shammary, Global EH&S Director at EQUATE, said: “EQUATE has successfully fosters and sustained an interdependent health and safety culture built on caring, teamwork and ownership of Health, Safety, Security and Environment. We uphold the highest standards in the industry and have been recognized year after year by our peers and independent organizations for our efforts. We are glad to take part and share our knowledge with the industry at large in such an established platform and work together to improve the EHS&S performance of organizations.”

Throughout its global operations, EQUATE has also heavily invested in the latest advancements to enhance its EH&S standards in operations and was honoured for its outstanding safety procedures, leadership engagement, rigorous reporting standards and its dedication to the protection of people, communities and the environment.

EQUATE is also the first company in Kuwait to have obtained the Responsible Care (RC) accreditation and certification, and sets example globally through its fully-owned subsidiary MEGlobal, which was named one of Canada’s Safest Employers last October, winning Gold in

the Chemistry category at a ceremony hosted by Thomson Reuters and Canadian Occupational Safety Magazine in Toronto.

EQUATE invests significantly in collaborations in the industry to improve EH&S standards as part of its belief that partnerships and knowledge exchange with peers, academic institutions and stakeholders are a necessity to create a platform that would benefit the employees and the industry.

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.

Kuwait,  February 03, 2019 – Today, the EQUATE Group announced its fourth quarter (Q4) 2018 and full-year 2018 earnings. In Q4 2018, the EQUATE Group reported an EBITDA of $427 million, compared to $388 million for the same period in 2017. EQUATE Group’s total EBITDA for 2018 stood at $2.12 billion, compared to $1.73 billion in 2017.  Net Income After Tax for the year was $1.56 billion, compared to $1.13 billion in 2017.

“EQUATERS across the globe defined excellence in 2018,” said Dr. Ramesh Ramachandran, CEO and President of the EQUATE Group. “The record-breaking EBITDA was a result of extraordinary performance across all functions. We had an exceptionally safe year without any recordable EH&S incidents across the globe, a manufacturing volume record at all global sites and a very good pricing environment – notably in the first three quarters – and excellent cost optimization.”

Looking ahead to 2019, Ramachandran said, “Global headwinds in the commodity environment and high volatility due to uncertainty of tariffs resulted in a slowdown in the fourth quarter that persists in early 2019. That said, EQUATERS have always overcome challenges and I have every confidence that their expertise and commitment will continue to result in success.”  

The EQUATE Group maintained its leadership position as the second largest producer of EG globally, with EG production of over 2.5 million metric tons. This market leadership will be further strengthened in the coming months with an additional 750,000 MT in EG capacity as the new Oyster Creek, Texas Site comes on line on the US Gulf Coast.

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.

Disclaimer 

This earnings announcement (the Announcement) is for information only. The Announcement is based on unaudited financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The audited financial statements of the Group for the year ended 2018 are not currently available for publication but will be published by the EQUATE Group in due course. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement.

Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

Kuwait,  February 03, 2019 – Today, the EQUATE Group announced its fourth quarter (Q4) 2018 and full-year 2018 earnings. In Q4 2018, the EQUATE Group reported an EBITDA of $427 million, compared to $388 million for the same period in 2017. EQUATE Group’s total EBITDA for 2018 stood at $2.12 billion, compared to $1.73 billion in 2017.  Net Income After Tax for the year was $1.56 billion, compared to $1.13 billion in 2017.

“EQUATERS across the globe defined excellence in 2018,” said Dr. Ramesh Ramachandran, CEO and President of the EQUATE Group. “The record-breaking EBITDA was a result of extraordinary performance across all functions. We had an exceptionally safe year without any recordable EH&S incidents across the globe, a manufacturing volume record at all global sites and a very good pricing environment – notably in the first three quarters – and excellent cost optimization.”

Looking ahead to 2019, Ramachandran said, “Global headwinds in the commodity environment and high volatility due to uncertainty of tariffs resulted in a slowdown in the fourth quarter that persists in early 2019. That said, EQUATERS have always overcome challenges and I have every confidence that their expertise and commitment will continue to result in success.”

The EQUATE Group maintained its leadership position as the second largest producer of EG globally, with EG production of over 2.5 million metric tons. This market leadership will be further strengthened in the coming months with an additional 750,000 MT in EG capacity as the new Oyster Creek, Texas Site comes on line on the US Gulf Coast.

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.

Disclaimer

This earnings announcement (the Announcement) is for information only. The Announcement is based on unaudited financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The audited financial statements of the Group for the year ended 2018 are not currently available for publication but will be published by the EQUATE Group in due course. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement.

Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

Kuwait, January 31, 2019: The Kuwait Styrene Company (TKSC), the first and only Kuwait-based styrene monomer (SM) producer and exporter, today announced realizing a net profit of USD 211 million for the fiscal year ending in December 31, 2018, compared to USD 94 million in 2017.

Commenting on the results, TKSC CEO Adel Al-Munifi stated, “TKSC achieved record results in 2018 with an increase of 124% in net profit and a production exceeding our 450,000 metric tons annually (MTA) nameplate production capacity of SM, while we continued to deliver a significant performance in major markets including China, South East Asia and India.”

Al-Munifi added, “TKSC’s competitive position witnessed additional growth in 2018 with financial results reflecting continued measures taken to optimize costs and enhance operational reliability and safety, resulting in high-quality production for our expanding customer base. We must note that the US-China trade uncertainty supported firm prices in TKSC’s markets, leading to this unprecedented growth in our overall profitability during 2018.”

Since commencing its operations in 2009, TKSC has significantly contributed to the success of its shareholders, as well as to Kuwait’s global industrial and economic presence.

Al-Munifi concluded, “I would like to extend utmost gratitude to all TKSC’s shareholders, EQUATE Petrochemical Company, Kuwait Paraxylene Production Company (KPPC) and The Kuwait Olefins Company (TKOC), public institutions and customers for their continued support throughout our remarkable journey.”

The Kuwait Styrene Company (TKSC) was established in 2004 as an international joint venture between the Kuwait Aromatics Company (KARO) and the Dow Chemical Company (Dow). TKSC is part of Greater EQUATE, which also includes Kuwait Paraxylene Production Company (KPPC) and The Kuwait Olefins Company (TKOC). The firms are operated by EQUATE Petrochemical Company under one integrated umbrella in Kuwait.