Official: Kayan to turn to profit by help of innovative products

21/07/2014 Argaam

Saudi Kayan Petrochemical Company is expected to turn to profit by support of Sabic’s innovative plastics company, a top official said.

Sabic innovative plastics company is a major world producer of polycarbonates, also produced by Kayan.

Kayan, 35 percent owned by Sabic, will focus on innovative products which will make profit making possible, Sabic CEO Hamad Al-Madi told Al-Arabiya TV.

The cost of building Kayan complex was very high, as it was founded in 2005 when construction costs were at record high level, Al-Madi said.

The company incurred a SAR 133.1 million losses in the second quarter of 2014.

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