Jul 5 2004
Equipolymers, a 50/50 global joint venture between Petrochemical Industries Company (PIC) of Kuwait, a wholly owned subsidiary of Kuwait Petroleum Corporation and The Dow Chemical Company has received full regulatory approval and has commenced formal operations in the manufacture and marketing of polyethylene terephthalate resins (PET) and the manufacture of purified terephthalic acid (PTA), as a new entity.
Equipolymers will serve customers globally and will be headquartered in Zurich, Switzerland. Production facilities include PET and PTA plants in Ottana, Italy, and a PET plant in Schkopau, Germany, as well as a second PET plant in Schkopau, which is expected to start-up by the end of 2004. After the start of the new PET plant in Schkopau, the JV will have PET capacity of approximately 434,000 metric tons.
PET is a high quality plastic for use in the packaging industry and in particular for the production of beverage, food and other liquid containers. PTA is a key raw material for the production of PET.
"Our objective is to position Equipolymers as the preferred partner for brand-owners and other key-value chain players in the PET market, whilst demonstrating innovation-driven leadership" says Flavio Terruzzi, CEO of Equipolymers." Full commitment to both our customers and the PET industry remains our key priority".
For more information on polyethylene terephthalate, click here.