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Braskem S.A. reports news on its petrochemical and polymer business, including polyolefins, biopolymers, chemicals, petrochemicals, fuels, industrial utilities, and ADR-related company disclosures. The company’s operating updates commonly reference its Brazil/South America, United States and Europe, and Mexico activities, as well as production and sales trends across petrochemical complexes.
Recurring developments include circular and lower-carbon plastics, I’m green™ bio-based polyethylene, recycled and traditional polyolefins, packaging applications, healthcare and hygiene grades such as Medcol V7040, and collaborations tied to renewable or circular feedstocks. News also covers Form 20-F reporting, annual meeting materials, governance notices, and capital-structure-related communications.
Braskem (NYSE: BAK) announced a collaboration with Encina Development Group to produce recycled polypropylene (PP) using innovative technology. Encina aims to construct a facility by late 2021 that will process 175,000 tons of plastic waste annually, creating over 90,000 tons of recycled chemicals. Braskem will collaborate on logistics, product quality, and a supply agreement for sustainable propylene feedstock. This partnership supports Braskem's commitment to a carbon-neutral circular economy and increasing their recycled product sales to 300,000 tons by 2025.
Braskem has completed a $10 million expansion of its U.S. Innovation and Technology Center in Pittsburgh, adding eight new R&D laboratories equipped for advancements in Catalysis, Recycling, and 3D Printing. This initiative enhances Braskem's R&D capabilities, supporting its sustainability goals and Carbon Neutral Circular Economy objectives. The project utilized eco-friendly construction materials, reinforcing the company's commitment to innovation and sustainability in plastics manufacturing.
Braskem S.A. (BAK) reported a recurring EBITDA of US$699 million for 3Q20, a 126% increase over 2Q20, driven by improved sales and spreads in the PE and PP markets. The company achieved a historic quarterly record of over 1,050 tons of resins sold domestically in Brazil. However, it faced a net loss of R$1,413 million due to geological provisions and exchange rate impacts. Notably, EBITDA from Brazil was US$529 million, accounting for 70% of total EBITDA. Braskem also committed to ambitious sustainability goals, including carbon neutrality by 2050.
Braskem, the largest polyolefins producer in the Americas, has announced new sustainability goals aimed at eliminating plastic waste by 2030 and achieving carbon neutrality by 2050. The company plans to increase its I'm green™ portfolio, targeting 1 million tons of recycled products annually by 2030, and divert 1.5 million tons of plastic waste from landfills. Additionally, Braskem aims to reduce carbon emissions from operations by 15% by 2030. The company continues to lead in biopolymers, advocating for a carbon-neutral circular economy through innovations in sustainable products.
Braskem (NYSE: BAK) has launched the Braskem e-NABLE Chapter, enhancing its role in producing free 3D-printed prosthetic upper limb devices for those in need. This initiative capitalizes on the company's standing as the largest polypropylene producer in North America and its advanced 3D printing capabilities. The new chapter aims to benefit underserved communities in Pennsylvania and globally, offering polypropylene-based prosthetics at no cost. Braskem seeks further certifications to produce additional prosthetic models, expanding its impact in the humanitarian sector.
Braskem (NYSE: BAK) has announced its status as an Operation Clean Sweep® (OCS) blue member, a recognition highlighting its commitment to best practices in the control of plastic pellets, flakes, and powders. This program is part of Braskem's broader strategy to promote sustainability and reduce environmental impacts. The company aims for zero losses in these materials across its operations. With a net revenue of R$52.3 billion (US$13.2 billion), Braskem also participates in initiatives to enhance recycling for polypropylene, indicating strong alignment with circular economy principles.
Braskem has successfully launched commercial production at its new polypropylene production line in La Porte, Texas, with a capacity exceeding 450 kilotons (1 billion pounds) annually. The plant, representing a $750 million investment, is the first new polypropylene facility in North America since 2008. The launch follows the completion of mechanical construction and commissioning, ensuring high product quality. The new line addresses market demand recovery post-COVID-19 and aims to support both U.S. and international clients, enhancing Braskem's leadership in the North American market.
Braskem (NYSE: BAK), a leading polyolefins producer, recently launched a new INSPIRE polypropylene (PP) grade aimed at replacing polyethylene terephthalate (PET) in packaging applications. This new grade exhibits enhanced thermal and optical properties, making it ideal for ready-made meals and capable of withstanding dishwasher use. The grade is part of Braskem's broader INSPIRE series, designed for sustainability and performance. Additionally, a new production line in La Porte, Texas, has a capacity of 450 kilotons per year and is expected to begin full-scale production by Q3 2020.
Braskem S.A. (NYSE: BAK) reported its 2Q20 results, highlighting a recurring EBITDA of US$310 million, a 5% increase from 1Q20, driven by lower feedstock costs and reduced expenses. However, there was a net loss of R$2,476 million primarily due to an additional R$1.6 billion provision for geological events and currency depreciation. The company issued US$600 million in subordinated debt to bolster its balance sheet. Sales of resins and chemicals fell by 50% versus 1Q20, attributed to COVID-19 impacts.
Braskem has completed the construction of its new polypropylene production facility in La Porte, Texas. This facility boasts a production capacity of over 450 kilotons (1 billion pounds) per year and will expand Braskem's ability to produce various polypropylene products. Approximately 1,300 construction jobs were created during the building phase, along with 50 permanent jobs for ongoing operations. As production begins later this year, the facility aims to replace imported polypropylene and enhance Braskem's export capabilities across North America, South America, Europe, and Asia.