Petkim Complex revenues in Turkey increase by almost one and a half times in the first quarter
Azerbaijan, Baku, May 3 / Trend, A. Taghiyeva /
According to final first quarter metrics, revenues of the Turkish Petrochemical Holding Petkim increased by 149 percent during the preceding year, amounting to 54 million lira, the Petkim Holding said on Friday. The State Oil Company of Azerbaijan (SOCAR) owns stock in the organization.
According to the report, compared to the figure of the previous quarter, Petkim's revenues increased by 91 percent.
Trade turnover of the Holding in the first quarter of 2013 decreased by 18 percent compared to the same period of 2012, amounting to 990 million lira.
Sales of Petkim products increased by 7 percent and amounted to 402,000 tons in the first quarter. The export of products during this period amounted to $231 million.
In addition, $20 million was invested in scheduled maintenance and increasing production efficiency during the first quarter.
Also, on March 30, SOCAR Turkey Enerji A.Ş and SOCAR International DMCC OGG acquired a 10.32-percent stake in Petkim. This increased its stake to 61.32 per cent. Some 38.67 per cent is in free circulation on the Istanbul Stock Exchange.
The Petkim Petrokimya Holding manufactures plastic packaging, fabric, PVC and detergents. It is the only Turkish producer of such products and exports a quarter of its production.
The official exchange rate is 1,7927 TL / USD on May 3.