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Husain: EQUATE Supplied Kuwaiti Plastics Industry with Over 450,000 Tons of PE from 1998
EQUATE Supported Local Market Growth by Over 450% in 17 Years
Demand Growth Exceeded 55% in Five Years
Kuwait - EQUATE Petrochemical Company, Kuwait's first international joint-venture in this industry, said that it supplied over 450,000 tons of Polyethylene (PE) to Kuwaiti plastic manufacturers throughout 17 years during 1998 to 2015.
During a gathering for local customers, EQUATE President & CEO Mohammad Husain said, "Our local customers represent key stakeholders in reflecting our 'Partners in Success' slogan through a culture of innovation and continuous collaboration. Their growth and success are primary strategic objectives for EQUATE to ensure overall sustainability in the industrial sector as a whole, as well as the plastics industry in specific. From 1998 to 2015, the annual production of Made in Kuwait plastics has increased by over 450%. All of these facts and figures prove the significant contribution of the local plastic industry, supported by the petrochemical sector, to ensure the diversification and advancement of the Kuwaiti economy."
On his part, EQUATE Polyethylene Business Director Ahmad Al-Saleh said, "Being an industrial leader, EQUATE has a strategic objective to support the growth of the local plastic industry. This objective stems from having a vision for shared value and promoting long-term business sustainability through innovation and progress. Overall ties with our local plastic manufacturers represent a strategic partnership at every level. Over the past five years, we have witnessed tangible growth in demand, exceeding 55%, for plastic products in multiple value-added applications, such as flexible and rigid food packaging, as well as industrial packaging. EQUATE continues to actively support such growth with a variety of high quality products and services with unparalleled supply reliability and innovative technical solutions. EQUATE will always support the efforts of its Kuwaiti customers in supplying the local market's demands, as well as growing their presence in other countries."
With the participation of over 20 local plastic manufacturers to develop overall ties and discuss industrial topics, the gathering was attended by EQUATE PE Regional Sales Leader Ali Al-Luqman, Corporate Communications leader Kholoud Al-Feeli and a number of employees. The gathering covered a variety of economic, industrial, technical and latest market trends.
About
Established in 1995 as Kuwait's first international joint-venture in this industry, EQUATE Petrochemical Company (EQUATE) embodies its "Partners in Success" slogan through the partnership 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 currently the owner and single-operator of several fully integrated world-class petrochemical units, within the Greater EQUATE joint-venture, that annually produce over 5 million tons of the highest quality grades of Ethylene, Polyethylene (PE), Ethylene Glycol (EG), Polypropylene (PP), Styrene Monomer (SM), Paraxylene (PX), Heavy Aromatics (HA) and Benzene (BZ). The products are marketed throughout the Middle East, Asia, Africa and Europe. As part of its global presence and growth opportunities, EQUATE in 2015 fully acquired MEGlobal as a wholly owned subsidiary. MEGlobal is a world leader in the manufacture and marketing of petrochemicals with operations in North America and Europe. Alongside with being a leading industrial organization, EQUATE dedicates its utmost commitment and care to overall sustainability wherever it operates in cooperation with public and private bodies, including employees, the society and customers, in all relevant fields, such as human development, environment, education, health and public awareness. www.equate.com
© Press Release 2016
