Petkim exports increased by one quarter in 2012

Oil&Gas Materials 7 March 2013 19:57 (UTC +04:00)

Azerbaijan, Baku, March 7 / Trend, A. Taghiyeva /

Exports from Petkim petrochemical complex grew by 25 percent in 2012 compared to 2011, amounting to $ 1.04 billion, according to a press release of the complex.

In 2011, Petkim exported products to the amount of $834 million. In 2012, Petkim's total sales rose by 12 percent compared to 2011, amounting to 4.3 billion lira.

Petkim's gross profit in 2012 decreased by 57 percent compared to 2011, amounting to 76 million lira. Net income decreased by 83 percent, amounting to 17 million lira.

Also in 2012, $ 48 million in additional investments was invested in the increase in production capacity, routine maintenance and performance improvements.

On March 30, SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 percent stake in Petkim, increasing SOCAR's stake in the company to 61.32 percent. Some 38.67 percent are in free circulation at the Istanbul Stock Exchange.

Petkim Petrokimya, Holding manufactures plastic packages, fabric, PVC, detergents, being the only Turkish producer of such products, a quarter of which the company exports.