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Kuwait Styrene Makes Profit on the Back of Rising Petrochemical Prices

4:17 AM MDT | March 14, 2011 | Natasha Alperowicz

The Kuwait Styrene Co. (TKSC), a joint venture between Kuwait Aromatics Co. and Dow Chemical, has announced an $81 million net profit for the fiscal year ending December 31, 2010. Sales in 2010 exceeded $600 million, which "is a positive sign indicating the continuous recovery in prices of petrochemical products," says Ahmad Abdullah Al Habib, chairman of TKSC. "Styrene monomer markets currently enjoy a positive hike as annual global demand exceeds 4%, especially in light of escalating gross domestic product growth in emerging economies, such as...

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