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Petkim to establish new enterprise

Business Materials 21 October 2015 20:19 (UTC +04:00)
Turkish petrochemical complex Petkim will establish an enterprise for the production of high-tech engineering plastics and chemicals, the Turkish state body on public alert (Kamuoyunu Aydınlatma Platformu KAP) said Oct. 21.
Petkim to establish new enterprise

Baku, Azerbaijan, Oct. 21

By Maksim Tsurkov - Trend:

Turkish petrochemical complex Petkim will establish an enterprise for the production of high-tech engineering plastics and chemicals, the Turkish state body on public alert (Kamuoyunu Aydınlatma Platformu KAP) said Oct. 21.

A company called Petkim Specialities Mühendislik Plastikleri Sanayi ve Ticaret A.Ş. (Petkim specialities) is a 100-percent subsidiary of Petkim.

"Petkim Specialities will use the assets of the plastic production plant with a capacity of 14,000 metric tons per year, as part of Petkim, to carry out its activity," the statement said.

"The company initially plans to invest up to $5 million to increase the plant's capacity to 24,000 metric tons of plastics per year. The company will acquire new machinery and equipment with a capacity of 10,000 metric tons per year."

SOCAR has 61.32-percent share in Turkey's Petkim Petrochemical Holding.

Petkim produces plastic packages, fabric, detergents, and is the sole Turkish manufacturer of such products, a quarter of which is exported. The rest of the complex shares are in free circulation on the stock exchange.

Edited by CN

follow the author on Twitter: @MaksimTsurkov

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