News
BREAKING: Octal To Sell 100% Ownership To Petrochemical Company Alpek

Muscat: OCTAL, the maker of DPET® thermoforming PET sheet and a leader in the clear rigid packaging industry, announced today that the shareholders of OCTAL Holding SAOC have entered into an agreement to sell a 100% stake to Alpek, S.A.B. de C.V. (‘Alpek’). With its proprietary direct-to-sheet manufacturing technology and early adoption of advanced PET resin manufacturing processes, OCTAL has become a global leader in PET packaging. The transaction is expected to close in the first half of 2022, subject to customary closing conditions and regulatory approvals.
Speaking on the sale, Nicholas P. Barakat, CEO of OCTAL said, “OCTAL has grown into a globally recognized company and a world leader in PET Sheet, with manufacturing facilities and offices in Oman, USA, KSA and the UAE and sales of over 1 billion USD. Innovation, sustainability and expansion have been key enablers in OCTAL’s success which could only have been achieved with the vision and guidance of our shareholders. Looking ahead, we see a bright future for OCTAL under Alpek’s ownership.”
J.P. Morgan acted as exclusive financial advisor to OCTAL on the transaction and Latham & Watkins LLP were legal advisors to OCTAL.
-
OER Magazines2 months ago
OER, February 25
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, February 2025
-
Banking & Finance2 months ago
Sohar International Appoints Abdul Wahid Mohamed Al Murshidi as Chief Executive Officer
-
Energy2 months ago
Oman Gets Its First Hydrogen Refueling Station
-
News2 months ago
Shell Oman Marketing Company Hosts the 1st Lubricants Technology Conference in Muscat
-
News2 months ago
Oman Explores Semiconductor & EV Investments with EONH Private Holdings & Jetour Global
-
Economy1 month ago
Is Gold a Good Investment in 2025? A Deep Dive into the Precious Metal’s Future
-
News2 months ago
Microsoft AI Tour showcases groundbreaking AI innovations driving transformation and growth across Oman