Panama Petrochem turns COVID-19 into an opportunity – 9 Jul 2021

Incorporated in the year 1982, Panama Petrochem Limited (PPL) is engaged in the business of manufacturing of petroleum derivative products which find application in industries such as cosmetics & pharmaceuticals, Inks/Coatings, textiles, automobile, power, engineering, and rubber.

The company's operating income has gone up by as much as 44% last year to everyone's surprise

The improvement in performance is driven by supply imbalances in the industry owing to import restrictions imposed due to CoVID -19 thus, diverting demand to domestic players, further several cost reduction measures adopted by the company to rationalize cost and lower raw material prices aided margins