Qatar Petroleum successfully completes integration of Qatar Vinyl Company into Qapco six months ahead of time

23-Jun-17

Qatar Petroleum (QP) has successfully completed the integration of Qatar Vinyl Company (QVC) into Qatar Petrochemical Company (Qapco), six months before the deadline of this year end. The unification of QVC, a subsidiary of Mesaieed Petrochemical Company (MPHC), into Qapco, a subsidiary of Industries Qatar (IQ) that already operates Qatofin, has been done through the integration of all operations under a single operating company, Qapco. Both IQ and MPHC are listed on the Qatar Stock Exchange.

As of July 1, the resulting new single operating organisation, Qapco, will fully operate the facilities of all three companies. This integration will bring no change to the respective shareholdings of Qapco, Qatofin and QVC, whose brands will remain fully in place, QP said.
Qapco – which is 80% owned by IQ and 20% by France’s Total Petrochemicals – is engaged in the production and sale of ethylene, polyethylene, hexane and other petrochemical products; whereas QVC – which is jointly controlled by QP, MPHC and Qapco – is into sale of petrochemical products as caustic soda, ethylene dichloride and vinyl chloride monomer.

"This successful integration is another testament to our commitment to increasing the efficiency, effectiveness, and competitiveness of all our operations," QP president and chief executive Saad Sherida al-Kaabi said.