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Protests in Egypt affect Sidpec's sales

March 01/2011

(Arabian Oil and Gas) -- Egyptian petrochemicals producer, Sidi Kerir Petrochemicals (Sidpec), said that production during the recent protests in the country has not been affected, while sales operations have stopped completely.


Curfews have obliged Sidpec to stop sales completely for a few days, the company said in a statement published on the Egyptian stock exchange.


Meanwhile, the company reported that its profits rose 9% in 2010 to US$140.4 million compared to $129 million in 2009. The company attributed this increase to better production rates and an improvement of prices in international markets.


Sidpec was incorporated in 1997, and produces mainly linear low density polyethylene (LLDPE) and high density polyethylene (HDPE) traded under the name Egyptene.


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