At the beginning of year, the magazine Market was developing that the objective of Braskem for the 2012 was to be between the 10 petrochemical majors of the world, and that objective is more and more close. The petrochemical one also looks for to be developed in the segment of renewable energies. In the middle of the month of August, Braskem inaugurated in the state of Bay two plants of ETBE production, an additive for gasoline produced from ethanol. Part of the ETBE production will be destined to the Japanese market by means of a contract in the long term signed with the Sojitz Corporation, that stipulates the delivery of 120,000 tons of bioaditivo in three years. Three weeks ago, Braskem had initiated conversations with the shareholders controller of its Quattor rival – controlled by Unipar Participacoes (BVSP: UNIP3), another petrochemical producer of Brazil, to look for options of a strategic alliance. Although not yet positive results have been obtained, the possibility of reaching an agreement would represent an opportunity to harness its growth. At the beginning of month, the company it formed a new company of distribution baptized like Varient that will be concentrated in the thermoplastic resin sales.
At this moment Fernando Butze, head of operations of Varient said: the separation of the businesses allows to give priority us to each segment and to make agile the distribution processes. Varient is what previously it was the polymer division of the distributor of petrochemical chemicals and quantiQ, controlled in its totality by Braskem. The company in addition will participate in the project Ethylene XXI that it looks for in Mexico to increase the ethylene production and its derivatives. The actions of Baskem have obtained an extraordinary recovery in the last months. Very in agreement the investors are due to feel who contributed by the company at the beginning of March when their ADR quoted to US$ 3,74.
In the day of Friday, the ADR of the company closed to US$ 12.32, still far from US$ 20.1 that knew to reach in August of 2007 (or US$ 25.82 of February of 2005), and that without doubts, it will be able to surpass without problems in the medium term with the consolidation of its growth and expansion. Horacio Pozzo Trusting Brazil delay to grow to 4% in next the twelve months. Its stock market has advanced the times of the economy and grows a 63% in dollars, in clear reflection of these expectations. More are expected you raise shareholders and the good news so that the Bovespa continues raising, adelantmonos to the rest of the investors and we invest here Original author and source of the article.