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Exports of Brazilian petrochem firm Braskem rise 36.7%
03
Jun '13
The exports of Brazilian petrochemical company, Braskem, have increased by 36.7 percent in April 2013 from that recorded for April 2012, according to a statement by the Brazilian Ministry of Development, Industry and Foreign Trade (MDIC).
 
Braskem, which holds the tenth position among the top Brazilian exporters, exported petrochemical products worth US$ 295 million in April this year, according to the MDIC statement.
 
In April 2013, Braskem’s imports stood at US$ 318 million, showing a massive drop of 25.6 percent year-on-year.
 
According to Braskem’s first quarter 2013 results, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 6 percent from the previous quarter and amounted to US$ 437 million.
 
Braskem, one of the largest petrochemical companies of Brazil, is the largest producer of biopolymers like polypropylene. The company produces more than 16 million tons of petrochemical products per year that includes ethylene and propylene, which are used as a raw material in the textile industry.
 

Fibre2fashion News Desk - India

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