Date(s) - 15 February 2010
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Kuwait, February 15, 2010 — EQUATE Petrochemical Company’s President & CEO Hamad Al-Terkait said that the company’s annual sales to local Kuwaiti plastic manufacturers have increased by 200% during 1998 to 2009.
During “EQUATE’s Annual Local Customers Gathering 2009,” Al-Terkait said “During that period, the volume of local sales has increased from 11,000 Metric Tons Annually (MTA) to over 35,000 MTA in 2009 with a value of over USD 30 million,” adding that “This is true embodiment of one of the core objectives behind establishing EQUATE, which is encouraging Kuwait’s downstream industry.”
Al-Terkait noted that in 2009, local plastic manufacturers have witnessed a 19% increase in consumption, adding that such a manufacturing hike is a great source of encouragement to EQUATE that supplies these consumers with their polyethylene demands.
Al-Terkait stressed that “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.”
Hosting over 30 local customers, the gathering was attended by EQUATE Senior Vice President Dan Gibbs, EQUATE Business Director and EQUATE Marketing Company (EMC) President Adel Al-Munifi, as well as EQUATE Regional Sales Manager Muayad Al-Faresi along with several other senior officials from EQUATE and EMC.
EMC is the marketing arm of EQUATE Petrochemical Company.
Considered one of the world’s leading companies in producing Polyethylene and Ethylene Glycol, EQUATE was established in 1995 and it is presently a joint venture between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). It commenced production in 1997 and currently provides markets in the Middle East, Asia, Africa and Europe with high quality petrochemical products.