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Braskem S.A. (NYSE: BAK) is a leading Brazilian petrochemical company headquartered in São Paulo. As the largest petrochemical company in Latin America, Braskem has established itself as a significant force in the global petrochemical industry. The company specializes in the production and sale of chemicals, petrochemicals, fuels, and utilities.
Braskem’s operations are geographically segmented into Brazil, the United States, Europe, and Mexico, with the majority of its revenue generated from Brazil. The company’s product portfolio includes olefins like ethylene, polymer and chemical-grade propylene, butadiene, and butene-1. It also produces various fuels such as automotive gasoline, liquefied petroleum gas (LPG), ethyl tertiary-butyl ether (ETBE), and methyl tertiary-butyl ether (MTBE). Additionally, Braskem manufactures intermediates including cumene and other chemicals.
Recently, Braskem has been at the forefront of the biopolymers market, further solidifying its status as a leader in both traditional and sustainable petrochemical solutions. The company continuously strives for innovation and sustainability in its operations and product offerings.
In the latest news, Braskem has released its 4Q23 Earnings Report, detailing significant financial achievements and operational milestones. Following this, the company also published its 1Q24 Earnings Report, highlighting continued progress and strategic initiatives. Investors and stakeholders can access the full earnings releases and further details on the company's Investor Relations website.
Braskem's commitment to growth and excellence is evident through its strong financial performance, strategic investments, and focus on sustainability. The company regularly engages with its investors, hosting conference calls and providing updates on its achievements and future plans.
Compact Membrane Systems and Braskem have launched the pilot demonstration of the Optiperm™ technology at Braskem's Marcus Hook facility. This innovative membrane technology aims to enhance olefin production efficiency while reducing waste, carbon emissions, and energy consumption. The project involves producing over 90% purity paraffin and olefin-rich streams using a multistage design. This demonstration is pivotal for commercial-scale production, with commercial membrane products expected as early as 2023, aligning with Braskem's commitment to sustainability and the circular economy.
Braskem (NYSE: BAK) announced its partnership with Native Shoes to produce The Robbie footwear, utilizing Braskem's I'm green™ bio-based EVA polymer made from sustainably sourced sugarcane. This collaboration aims to meet the rising consumer demand for environmentally friendly products, aligning with a shift towards sustainable fashion. The Robbie shoes are designed for children, representing a step towards eco-conscious consumerism. The bio-based EVA has a 22% lower greenhouse gas impact compared to traditional EVA, showcasing Braskem's commitment to sustainability and the circular economy.
Braskem (NYSE: BAK), the largest polyolefins producer in the Americas, is expanding its 3D printing product portfolio with new polyethylene and glass fiber reinforced polypropylene filaments. These products are designed for superior printing performance, offering minimal warpage and excellent interlayer adhesion. The glass fiber reinforced PP is ideal for automotive and aerospace applications, while the PE filament is suitable for packaging and consumer goods. Both filaments require no drying prior to printing, making them efficient options for various industrial applications.
Braskem S.A. (BAK) reported a recurring Operating Result of US$5.6 billion for 2021, marking a 171% increase from 2020. In 4Q21, the result was US$1.1 billion, down 23% from 3Q21 due to lower chemical spreads and seasonal sales volume declines. Net Profit for 2021 reached R$14.0 billion. The company declared R$6.0 billion in dividends, equating to a 42.5% payout of Net Profit. Additionally, Fitch Ratings upgraded Braskem to BBB-, restoring its investment-grade status.
Braskem, the largest polyolefins producer in the Americas, announced the addition of two new polypropylene grades with post-consumer recycled (PCR) content. Designed for FDA food contact applications, the grades support a circular economy and Braskem's sustainability goals. The polymer grades, suitable for food packaging and closures, contain 25% PCR content. Geoffrey Inch, Sustainability Director, highlighted the company's aim to provide 300,000 tons of recycled content by 2025 and 1 million tons by 2030. Braskem's initiatives align with its strategy to become carbon-neutral by 2050.
Braskem S.A. (NYSE: BAK), a leading producer of polyolefins, announced its investment in Nexus Circular LLC, a company specializing in advanced recycling technology. This strategic investment aims to convert landfill-bound plastics into sustainable feedstocks for virgin plastic production. Braskem's commitment to a Carbon Neutral Circular Economy includes targets for increasing recycled content sales to 300,000 tons by 2025 and 1 million tons by 2030. The partnership with Nexus aligns with Braskem's broader strategy to enhance plastics circularity and environmental sustainability.
Braskem (NYSE: BAK) has successfully completed its first propylene import in over a decade to the U.S. East Coast at Repauno Port in Gibbstown, NJ. This strategic initiative enhances Braskem's feedstock options for its polypropylene manufacturing facility in Marcus Hook, PA, allowing for competitive pricing and supply chain resilience. The Marcus Hook facility produces 415 kilotons of polypropylene annually, used in various industries including healthcare and automotive. Braskem aims to strengthen its supply chain and increase operational flexibility through this partnership.
Braskem, a leading polyolefins producer, has launched its first consumer-facing e-commerce marketplace on Amazon in partnership with Xenon arc. This platform focuses on making Braskem's polypropylene (PP) filaments for 3D printing accessible to small-to-mid-sized clients. Key offerings include 1.75 mm and 2.85 mm diameter filaments, including a carbon fiber reinforced option made from 100% recycled materials. The initiative aims to simplify supply chain complexities for smaller makerspaces and educational institutions.
Braskem S.A. (NYSE: BAK) reported its 3Q21 results, revealing a recurring Operating Result of US$1,469 million, down 17% from 2Q21, but up 116% compared to 3Q20. The company achieved a Net Income of R$3,537 million and a record free cash flow of R$3,911 million. S&P Global Ratings upgraded Braskem's rating to BBB-, reflecting improved profitability and cash generation. The company reduced its leverage to 0.83x and finalized a debt refinancing plan worth US$1.35 billion.
Braskem, the largest polyolefins producer in the Americas, has launched new high visibility polypropylene (PP) filaments, FL105PP, in neon yellow and pink, aimed at safety and construction applications. This innovative addition to their 3D product portfolio highlights their commitment to meeting client demands, with previous successes in traditional PP filaments. The new filaments are available in 1.75 mm and 2.85 mm diameters, enhancing usability across various applications. These products will be accessible in North America starting November 2021 via distribution partners M. Holland and Nexeo Plastics.
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