“This investment is very attractive to Braskem and will permit it to realize estimated synergies of US$110 million, based on net present value, as calculated in an analysis supported by the international consulting firm, Monitor, and we expect it to create significant value for all shareholders,” stated Paul Altit, CFO and Director of Investor Relations.
“The acquisition of Politeno by Braskem represents another significant step in the consolidation of the Brazilian petrochemical sector, which is intended to ensure the conditions that will favor growth and to increase competitiveness of the entire petrochemical production chain to meet the challenges posed by globalization of markets,” said José Carlos Grubisich, CEO of Braskem.
Brazilian petrochem company Braskem's business model, focused on thermoplastic resins and competitive integration with its main raw materials (ethylene and chlorine), has successfully assured it a variety of advantages, such as cost competitiveness, thanks to economies of scale and operating efficiency.
The principal products of Braskem's Business Development Unit are polyethylene teraphthalate, or PET, and caprolactam, para-xylene and benzene.
Polyethylene producer Politeno is an open capital corporation controlled by the following shareholders: SPQ Investimentos e Participações Ltda (Suzano Group), 35% of shares; Braskem S/A (Braskem Group), 35%; Sumitomo Chemical Company Ltd (20%); and Itochu Corporation(10%).
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
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