Monday, 23 November 2009 | 11:30 UAE time
COMPANIES
Industries Qatar
- +116.00 Last
- +0.90 (+0.78%) Today's Change
- 12,727 Volume
- 59.80-127.00 52 Week Range
- +43.00 (+58.90%) 52 Week Change
COMPANY DESCRIPTION
Industries Qatar is a regional powerhouse in the production of petrochemicals, steel and fertilisers. Qatar’s largest publicly-traded company aims to become the world’s biggest producer of ammonia and urea and a surge in global demand for fertilisers has helped it swell revenues over the last few years.Like its larger rival SABIC, Industries Qatar uses its discounted access to gas to make petrochemicals cheaper than rivals from outside the region. However, in February this year the firm reported full-year earnings that fell short of analysts’ expectations.
Net income was $2bn compared with $1.40bn a year earlier, the company said in a statement to the Doha bourse. However, Global Investment House KSCC forecast a profit of $2.60bn, while EFG-Hermes Holding SAE put it at $2.30bn.
The coming months aren’t set to get any easier for Industries Qatar, which is majority-owned by Qatar Petroleum. The chemical maker will face lower demand for its products as the first simultaneous recession for six decades in the US, Japan and Germany weakens demand for packaging and car bumpers.
KEY INFORMATION
Industry
Primary Mining, Refining and Petrochemicals
Address
Floor 4, Al Saad Plaza Building, 3212, Doha, Qatar
T
974 4308681
F
974 4308628
E
-
W
COMPANY OVERVIEW
| Ownership | Type | Established on | Employees |
|---|---|---|---|
| Public | Joint stock | 19 April 2003 | - |
MAJOR SHAREHOLDERS
| Name | Country | ||
|---|---|---|---|
| Government of Qatar | companies | Qatar | |
| Qatar Petroleum | companies | 70 | Qatar |
PORTFOLIO
| Name | Country |
|---|---|
| Fereej Real Estate Company | Qatar |
| Qatar Fertiliser Company | Qatar |
| Qatar Fuel Additives Company | Qatar |
| Qatar Petrochemical Company | Qatar |
| Qatar Steel Company | Qatar |
OFFICERS
| BOARD OF DIRECTORS | Position |
|---|---|
| Abdullah Bin Hamad Bin Khalifa Al Attiyah | Chairman |
| Yousef Hussain Kamal | Vice Chairman |
| Hamad Rashed Al Mohannadi | Board Member |
| Fahed Hamad Al Mohannadi | Board Member |
| Abdullah Hussein Sallat | Board Member |
| Ibrahim Al Ibrahim | Board Member |
| Faisal Mohammed Al Suwaidi | Board Member |
| MANAGEMENT | Position |
| Abdullah Bin Hamad Bin Khalifa Al Attiyah | Managing Director |
| Abdul Rahman Al Shaibi | General Coordinator |
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