The Turkish Plastics Industry Foundation (PAGEV), the umbrella organization of the plastics industry as a key driver of growth in the Turkish economy, chose Yavuz Eroğlu as its president once again during the 2016 General Assembly. Eroğlu said, “We are stronger together. We will continue to spur growth in the industry with projects that address real problems."
PE markets have been on a weak trend in global markets including Southeast Asia and Turkey since late February while Europe has turned down only recently with sellers having to trim their initial hikes given the slowing demand ahead of Easter Holidays in April. What is common in these major markets is that players are reporting ample supplies for HDPE grades and this exerts a more visible downward pressure on this product when compared to other PE grades.
In several Mediterranean markets, namely Europe, Turkey and Egypt, PET players have started to report improved demand ahead of the approaching summer months which is high season for PET applications.
Turkey’s overall polymer imports in 2016 were mostly steady from the record of 2015 at more than 4.4 million tons. Some polymers including homo PP, PE and ABS raised their market sizes and hit a record high in 2016 while PVC, PS and EPS imports contracted on the year, offsetting the gains in other polymers.
According to a release on the company’s website, Spain’s Repsol announced its financial results for the second quarter. The company’s Q2 net profit rose significantly by 79% to €367 million ($429 million) from €205 million ($240 million) in the same quarter of last year. The company’s net income on CSS basis (Average recurring net profit adjusted for one-off gains and inventory effects) was also up by 44% to €409 million ($580 million) on the back of increasing production in Libya and Brazil, rebound in oil prices as well as weaker financial expenses.Meanwhile, the company’s net debt decreased to €7.5 billion ($8.7 billion) from the previous quarter’s €8.3 billion ($9.7 billion).
Turkey exported $2.08 billion worth of plastic products in the first six months of the year, marking a 1.8 percent increase compared to the same period last year, according to the Turkish Plastics Industry Foundation (PAGEV) on Aug. 3.
It is important to be clear on the difference between PET bottles and BPA containers. Consumers can get confused on the types of bottles that you use for your food or beverage products.
Record level participation on 23rd International Eurasia Packaging Industry Fair that has been exhibited on Tüyap Fair Convention and Congress Centers in Istanbul.