Octal, the largest polyethylene terephthalate (PET) sheet producer and integrated packaging company in the world, has said it is now geared for a downstream expansion, with the long-term goal of an initial public offering to support global growth. With a total annual capacity of almost 1mn metric tonnes, Octal is the largest global manufacturer of PET sheets and resin on a single site, and the only company in the world with a fully integrated food packaging system from raw material to finished product. Octal’s first phase focused on achieving a leadership position in the established markets with the introduction of its proprietary DPET (direct to sheet process) sheet with its superior mechanical performance and environmental benefits. The second phase involved disrupting existing markets through material science, conversion and new technologies. With phase three, the company’s vision is to expand the universe of DPET applications through the deployment of new processes and downstream growth. (Times of Oman)