Kuwait Styrene Co. announces 2011 net profit at US$99 mln

13-Feb-12

The Kuwait Styrene Company (TKSC) has announced a net profit of US$99 million for the fiscal year ending December 31, 2011, as per KUNA. Profits have been attributed to several elements, such as strategic management, highly efficient operations, proper marketing, as well as the global stability in prices of petrochemical products. Sales value in 2011 exceeded US$662 mln, which is a positive sign indicating the continuous recovery of petrochemical markets. 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).