The Kuwait Styrene Company (TKSC) made a net profit of $180 million for the fiscal year ending December 31, 2013.
The company’s records jumped 200% from 2012’s earnings for the same period, despite what the company calls a sauid were a number of challenges related to stability in petrochemical prices, having a solid customer base, operational excellence and strategic marketing.
TKSC CEO Adel Al-Munifi said, “With total production reaching a record quantity of 500,000 metric tons (MT), exceeding the plant’s design capacity of 450,000 MTA, the 2013 sales value surpassed $915 million in comparison to $667 during 2012, all of which are positive results stemming from growing global demand for SM with a decrease in supplies, absolute abidance by relevant environment, health and safety (EH&S) regulations, in addition to proper management of financial expenses while launching several critical initiatives by the company.”
As Kuwait’s first and only producer of Styrene Monomer, TKSC was established in 2004 as an international joint venture between Kuwait Aromatics Company (KARO) and The Dow Chemical Company (Dow).
EQUATE Petrochemical Company is the single operator of Greater EQUATE, which includes The Kuwait Styrene Company (TKSC), Kuwait Paraxylene Production Company (KPPC) and The Kuwait Olefins Company (TKOC) under one fully integrated operational umbrella at Kuwait’s Shuaiba Industrial Area.
