As for EQUATE Senior Vice-President, Dan Gibbs, he said the company produced over 1 million tons of polyethylene and ethylene glycol in 2007 while the value of sales reached $1.2 billion, a 4% increase when compared with 2006.
On his part, EQUATE Vice-President for Technical Services, Mahmoud Al-Qattan said 2007 was the year that put the finishing touch to EQUATE's achievements in the past 10 years in various fields.
He noted that EQUATE had received His Highness the Amir's Award for the Best Plant in the State of Kuwait, as well as Kuwait Corporate Social Responsibility Award for the Industry and Energy Sector for the year 2007.
The company is doing its best to tackle and achieve a number of challenges in 2008, such as the Olefins II, Styrene and Aromatics projects which are being executed in accordance with EQUATE's strategic goals, he explained.
On this occasion, EQUATE wishes to congratulate all its employees for their dedicated effort and exceptional accomplishments, hoping that 2008 would carry equal if not greater achievements.
EQUATE would also like to thank shareholders for their confidence and support which enabled it to achieve its 2007 goals.
Considered one of the world's leading companies in producing polyethylene and ethylene glycol, EQUATE was established in 1995 as a joint venture between Petrochemical Industries Company (PIC) and The Dow Chemical Company with each having a 42.5% share in EQUATE, as well as Boubyan Petrochemicals Company and Qurain Petrochemical Industries Company which have a 9% and 6% stakes respectively in EQUATE.
It commenced production in 1997 and currently provides markets in the Middle East, Asia, Africa and Europe with high quality petrochemical products at competitive rates.
EQUATE Petrochemical Company KSCC
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