The Kuwait Styrene Company Announces USD 94 million in net profit for 2017
The Kuwait Styrene Company (TKSC), the first and only producer of styrene monomer in Kuwait, announced today a web earnings of USD 94 million for the finishing in December 31, 2017.
TKSC Chief Executive Officer Adel Al-Munifi, stated, "TKSC maintained a strong efficiency in 2017 driven by a maximized around the world sales method and cost-efficiency measures that enabled us to proceed supplying a top notch product to our strong customer base while doing a variety of planned maintenance works at the plant to enhance and sustain competitiveness and earnings on the long-lasting."
In 2017, the global styrene monomer (SM) market continued to recover, with typical rates getting to $1200 per statistics ton. Al-Munifi included, "The Company's proceeded productivity is supported by our world-class operational standards, making TKSC
among one of the most effective joint ventures established in Kuwait. The Company remains to add substantial value to its shareholders many thanks to its strong setting in the global industry. In support of the board and management, we thank EQUATE
Petrochemical Company, Kuwait Paraxylene Production Company (KPPC) and The Kuwait Olefins Company (TKOC), public organizations and customers for their continued support.
Al-Munifi ended, "With a strong financial setting and an operational technique to increase performance, TKSC is set to continue its growth in 2018."
The Kuwait Styrene Company (TKSC) was established in 2004 as an international joint venture between the Kuwait Aromatics Company (KARO) and the Dow Chemical Company (Dow). TKSC is part of greater EQUATE, operated by EQUATE Petrochemical Company, which likewise includes Kuwait Paraxylene Production Company (KPPC) and The Kuwait Olefins Company (TKOC). The firms run under one incorporated umbrella in Kuwait.
