Braskem as standout competitor in global petrochemical industry
26 Dec '07
3 min read
With this operation, the joint interest of Petrobras and Petroquisa in Braskem shall increase from 8.1% to 30% of the voting capital and from 6.8% to 25% of the voting capital, confirming the Petrobras' role as a minority shareholder relevant in the company.
Under the agreements' terms, Braskem shall integrate within up to six months the interests held by Petrobras and Petroquisa mentioned below based on the proportion on the total capital: Copesul (37,3%), Ipiranga Petroquímica (40%), Ipiranga Química (40%) and, optionally, Petroquímica Triunfo (up to 100%), situated in the Petrochemical Complex of Triunfo-RS, and Petroquímica Paulínia (40%), situated in Paulínia-SP.
Once confirmed the integration of Petroquímica Triunfo, Braskem shall add a capacity of 160 thousand tons per year of polyethylene to its products portfolio.
The agreement is in line with the purpose to widen the competitiveness of the whole petrochemical and plastics production chain in the country, enabling scale gains and synergies, a higher capacity of investments in research and development and the strengthening of the plastic manufacture industry - the petrochemical's third generation.
The implementation of this operation shall occur with the convocation of an Extraordinary General Meeting (EGM) especially for this purpose. Upon the approval at the EGM, the Braskem's capital shall increase with the issue of 103 million of new shares.
"Such operation allows Braskem to accelerate its strategic plan to be among the ten major global petrochemical companies and shows the strong fulfillment capacity of the Braskem's teams", affirmed Grubisich.
-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)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
