The group announced at a media briefing this week that it expects to step up production of the product to ensure growing demand amongst processors in the country can be met.

According to consumer analyst Euromonitor, packaged food in Indonesia saw a sales increase of 15 per cent in 2005, and is expected to continue driving demand amongst processors for packaging solutions in the coming few years.

Titans managing director Thomas Patrick Grehl, told reporters that as demand in the country for polyethylene's was currently not being met, the company has a golden opportunity to increase its presence in the sector.

"Basically whatever we produce in Indonesia we can sell. In a significant short term, we grew our share by a factor of three," he said.

Titan expects as a result to supply 300,000 tons of polyethylene this year throughout the industry, compared to just 100,000 tons in 2006.

By maintaining these levels of growth into 2008, the company added that it could account for 50 per cent of Indonesian demand for the product, from currently just under a quarter of the total supply in the country.

With this market share, the group estimates its production to rise to 500,000 tons next year, which under current prices could account for around €450m in profits.

Titan attributes the growth to the acquisition in March last year of Indonesia's largest polyethylene supplier, PT Peni.

The increased production capacity has seen the group increase its dominance of the sector in the Asia Pacific region, where it already holds a significant presence in markets like China and Malaysia.

Polyethylene products can be used in a number of food packaging solutions including plastic containers for margarines, shrink wrap, and lining for cereal boxes and milk cartons.