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Markets :: Basic Chemicals :: Petrochemicals :: Styrene

Kuwait Styrene reports record sales and profit on higher demand

3:16 AM MST | March 2, 2014 | Natasha Alperowicz

The Kuwait Styrene Co., (TKSC) today reported a net profit of $180 million for the fiscal year ending 31 December 2013. “Despite several challenges, these profits exceeded the $59 million net profit of 2012 by over 200% due to a number of elements relevant to stability in petrochemical prices, having a solid customer base, operational excellence and strategic marketing,” said Hadi Abul, chairman of TKSC.  Meanwhile, Adel Al Munifi, CEO of TKSC, said that production of styrene reached record levels in 2013 with TKSC producing 500,000 m.t....

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