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EQUQTE categorically denies rumors aimed at shaking economy's pillars
September 6, 2016, 4:35 pm

EQUATE Petrochemical Company, Kuwait's first international joint-venture in this industry, said that recently there have been statements, social media posts and text messages which included claims, lies and false allegations against the company as a whole, as well as state officials at the highest levels.

EQUATE President & CEO Mohammad Husain said, "It is clear that the initiators of these rumors are aiming at shaking trust in the pillars of national economy by targeting one of Kuwait's most successful companies to harm its international status, in addition to the reputation of its entire staff."

Husain affirmed, "Through its board, executive management and all staff, EQUATE has and still maintains absolute transparency with all its employees and every official body. EQUATE is fully aligned with all laws and regulations in Kuwait as they are the basis of EQUATE's policies that ensure the integrity and professionalism of all conduct." He said, "The initiators of these rumors did not approach or attempt to approach official legal and regulatory bodies. That alone proves the invalidity of these rumors, as well as the realization of their baselessness and lack of evidence by the initiators."

Husain noted, "The Company affirms that it will not disregard these false accusations. It will implement its legal rights to defend its reputation and status through pursuing all those involved in false claims and rumors before relevant authorities."

Established in 1995 as Kuwait's first international joint-venture in this industry, EQUATE Petrochemical Company (EQUATE) embodies its "Partners in Success" slogan through the partnership between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC).

Commencing production in 1997, EQUATE is currently the owner and single-operator of several fully integrated world-class units in Kuwait, North America and Europe that annually produce over 6 million tons of the highest quality petrochemicals.

Source: KUNA

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