Qatar Petroleum announces integration of Qatar Vinyl, QAPCO
DOHA, Qatar – Qatar Petroleum announced a plan to integrate the activities of Qatar Vinyl Company (QVC), which is part of Mesaieed Petrochemical, into Qatar Petrochemical Company (QAPCO), which is part of Industries Qatar, through a service agreement arrangement. The result will be a single company, QAPCO, operating the facilities of both companies.
The integration will not result in any change to the shareholder ownership, but will allow the realization of synergies through creating a single entity that operates the assets on behalf of both companies’ shareholders.
“This integration aims to enhance the competitiveness, financial performance, and resilience of both companies,” said Saad Sherida Al-Kaabi, President & CEO of Qatar Petroleum. “The shareholders of Industries Qatar and Mesaieed Petrochemicals will directly benefit from this integration as it reduces the operating cost and enhance the profitability of both companies.”
The integration process is expected to start in March and be completed before the end of the year. Upon completing the integration, QAPCO will be a single expanded and highly synergetic operating company fully managing QAPCO’s and QVC’s current activities.
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