Titan posts 2007 results, to raise propylene production

27 Feb '08

3 min read

Titan Chemicals Corp. Bhd. posted RM6.1 billion in revenue for the financial year ended 31 December 2007, with a jump of 11 per cent against the previous year - yet another record achievement in group revenue, Managing Director Thomas Patrick Grehl said.

Its profit before tax (PBT) stood at RM448.4 million while net profit after tax (PAT) was posted at RM373 million.

"The year in review saw good supply and demand conditions as Titan Chemicals sold more than one million tonnes polymers - which was a new record," he said, adding that the growth in sales revenue was driven by continued strong market fundamentals.

Grehl said both the both the butadiene and metathesis plants in Pasir Gudang will be completed in the first quarter of 2008 and the stream of mixed C4s would be value-added through these two plants in the production of butadiene and propylene.

"These two plants are part of our business strategy, whereby the diversification of our markets and products will future enhance the company's competitiveness," he said.

Looking ahead, Grehl said this year, Titan Chemicals is expected to generate income from the butadiene business and an increase in propylene production leading to expanded polypropylene output from its local operations.

"In Indonesia, PT TITAN targets significantly increasing its production level based on the growing market share as a result of our excellent sales marketing team effort. In addition, Titan Chemicals is looking forward to the contribution from our BOPP plants which will deepen products' integration," he said.

More Titan Chemicals Corp. Bhd News... More Textiles News - Malaysia...