24 May 2013 09:15 [Source: ICB]
Qatar's Muntajat will carefully evaluate how to leverage on the structures in Qatar Petrochemical Company (QAPCO) and Qatofin, as it takes these two companies into the centralised marketing, sales and distribution system, a senior company executive said on 20 May.
Muntajat was recently set up by the Qatari government to market, sell and distribute the chemicals, petrochemicals and fertilisers produced by Qatari companies.
Muntajat will be carefully considering its next move
QAPCO is a 80-20 joint venture between Industrial Qatar (IQ) and Total petrochemicals.
Qatofin is a joint venture between QAPCO (63%), Total Petrochemicals (36%) and Qatar Petroleum (1%). The four Qatari producers whose transitions were completed are Qatar Fuel Additives Co (QAFAC), Qatar Fertiliser Company (QAFCO), SEEF and Qatar Vinyl Company (QVC), said Al-Abdulla.
"Muntajat is already selling and shipping chemicals and fertilisers produced by the transitioned producers to China and southeast Asia," he said at the sidelines of the four-day Chinaplas exhibition which begins on 20 May. Muntajat was currently working on bringing QAPCO and Qatofin into the centralised sales, marketing and distribution system, said Al-Abdulla.
"We are focusing on the upcoming integration of QAPCO's and Qatofin's sales and marketing departments, which we expect to complete in the coming months," he said.
"The transition process for QAPCO is ongoing, and the network of distribution hubs is being reviewed," he added.
The transition of Qatar Chemical Company (Q-Chem) had not started yet, but based on experience with the smooth transitions of QAFAC, QAFCO, SEEF and QVC, we anticipate a similarly successful transition for the remaining producers, he added.
Q-Chem is a 51-49 joint venture between QP and Chevron Phillips Chemical International Qatar Holdings.
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