PET resin maker and sheet extruder Octal Holding & Co. SAOC plans to have new sheet-production sites operating in both the U.S. and Western Europe in the next 24 months.
Octal operates almost 400 million pounds of annual amorphous PET sheet capacity and almost 700 million pounds of annual resin capacity at a site in Salalah, Oman. The firm exports about 65 percent of its production to Europe and 30 percent to the U.S.
Octal expects sales to skyrocket from $50 million in 2008 to $400 million this year, as a result of running its plant at full production, Managing Director Nicholas Barakat said in a recent telephone interview.
That growth will allow the firm to add sheet plants in the Southeast or Midwest and at an unspecified site in Western Europe in the next two years, Barakat said. Sheet made at those locations will be based on post-industrial PET, which also will be processed at the new sites.
The [Oman] plant is 95 percent sold out, and we're growing from account to account, said Barakat.
As a packaging material, APET is ready to come into its own, Barakat said.
In food packaging, [APET] is well-established and well-understood, he explained. But before, there wasn't a supplier with enough scale to make this growth happen. Now, we have big opportunities for clear, rigid sheet in oral care, electronics, toys anything on a hang tab.
Octal plans to add 1.1 billion pounds of PET capacity in Oman by early 2011.
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