Home / Knowledge / News / Textiles / Total ethylene & propylene sales higher in Q2, BRASKEM
Total ethylene & propylene sales higher in Q2, BRASKEM
12
Aug '10
BRASKEM S.A., the leading thermoplastic resin producer in the Americas, announces its results for the second quarter of 2010 (2Q10).

With the acquisition of the control of Quattor Participações SA and Sunoco Chemicals in April 2010, this release is based on pro-forma consolidated information that includes 100% of the results from these new assets for all periods stated. In accordance with CVM Instruction 247, these figures consider the proportional consolidation of the interest in Cetrel S.A. - Empresa de Proteção Ambiental. The quarterly information was reviewed by independent external auditors, with the exception of Braskem America (the former Sunoco Chemicals) in 2009 and 1Q10.

On June 30, 2010, the Brazilian real/U.S. dollar exchange rate was R$1.8015/US$1.00.

According to Braskem CEO Bernardo Gradin:
"With each passing quarter, Brazil has demonstrated the capacity to grow its economy, which has kept resin demand at high levels. This scenario helped Braskem's strong performance, in particular the recovery in the Quattor operations, as a consequence of the company's new administration initiatives, aiming always at better serving the Brazilian market. In this second quarter we began to reap the gains from the Quattor merger, which presents opportunities to capture synergies estimated at R$ 400 million in annual and recurring EBITDA as of 2012, confirming the acquisition's potential for value accretion.

“The scenario of the economy and international petrochemical industry require attention, whether due to the deterioration of the crisis in developed countries or the slight slowdown in the Chinese economy, which could cause downward pressure on demand for commodities in the international market, or due to the new resin or petrochemical production capacity coming online."

Green ethylene plant
The green ethylene plant located at the Triunfo petrochemical complex is in the commissioning and pre-operational phase, with operations for the global market expected to begin in September 2010. In July, the Rio Grande do Sul State Environmental Protection Foundation (FEPAM/RS) granted the plant's operating license, and Braskem has already finished contracting the ethanol required to guarantee feedstock supplies. The new plant will consume 460,000 m3 of ethanol per year. Braskem will be the first company in the world to produce polyethylene certified as made from renewable raw materials on an industrial scale.

Basic Petrochemicals Performance
In line with the international scenario for thermoplastic resins, ethylene and propylene prices reversed the upward trend in May and June, reflecting (i) the increase in naphtha supply due to higher production at the refineries in Asia, which limited the exports opportunities from Europe and led to lower prices; (ii) decrease in oil prices, which were impacted by the more pessimistic outlook for the global economy; (iii) the weaker demand in 2nd generation operations.


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search