Oman-based Octal, one of the world’s largest PET producers has surpassed the US$ 3 billion dollar mark in sales, a record in the company’s six-year history, according to the company’s latest press release.

Moreover, the firm set new benchmarks recording its highest quarter production volume of PET in Q1, 2014 with March 2014 being its second best month ever of PET production volumes. The latest capacity expansion of its state-of-the-art PET Complex in Salalah has increased production of bottle PET resin by 40% with a monthly run-rate of US$ 100 million. Octal accounts for approximately 15% of Oman’s non-oil exports, which equates to about 1.5% of the national GDP.

Joe Barenberg, Executive Vice President and Chief Operating Officer of Octal, attributes this achievement to the company’s continued success in securing high value accounts with some of the biggest and most respected international brands, meeting their requirements for general food and consumer products packaging. He says that this is a clear indication of Oman’s manufacturing prowess and potential for expanding Oman’s presence on the world stage.

Octal is converting diverse packaging lines to its high performing PET resins and pioneering exclusive DPET sheet with new high volume packaging substrates expected to be announced in May at Interpack, a prominent packaging trade fair in Dusseldorf, Germany.

The company’s unprecedented reduction in environmental impact has also created a new paradigm for the packaging industry and has set global industry benchmarks in energy and natural resource efficiency, says Octal, which currently exports to more than 70 countries around the world and provides clear rigid packaging solutions to some of the leading food and consumer products industries.