Strong demand from emerging economies boosts sales
The Kuwait Styrene Company (TKSC) has announced a full-year profit of $81m for 2010. Revenues exceeded $600m, which the company attributed to strong international demand for styrene monomer.
“Styrene monomer markets currently enjoy a positive hike … in light of escalating gross domestic product growth in emerging economies, such as China, India and others,” says Adel Yousef al-Munifi, TKSC’s chief executive officer.
TKSC, a joint venture between Kuwait Aromatics Company (Karo) and Dow Chemical Company, is Kuwait’s sole styrene monomer producer.
Its production facilities are located in the Shuaiba Industrial Area and are operated by Equate, Kuwait’s petrochemicals joint venture between US-based Dow and the Petrochemicals Industry Company, a subsidiary of the Kuwait Petroleum Company, and other local companies.
TKSC operations are integrated at Shuaiba with the running of Kuwait Paraxylene Production Company and Kuwait Olefins Company under the umbrella of Greater Equate.
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