Braskem Solidifies Its U.S. Polypropylene Leadership and Global
Expansion Efforts
The company completes its acquisition of The Dow Chemical
Company Polypropylene Business; builds its global polypropylene
capacity to four (4) million tons per year.
PR Newswire
SAO PAULO, Sept. 30, 2011
SAO PAULO, Sept. 30, 2011 /PRNewswire/ -- Braskem, the leading
resin producer in the Americas, announced the completion of its
acquisition of the Polypropylene Business from The Dow Chemical
Company, an important milestone in the Company's global expansion.
The transaction, announced on July 27, was approved by the European
Commission and the Federal Trade Commission and the Antitrust
Division of the Justice Department of the United States of
America.
The assets involved in the deal include two manufacturing plants
in the U.S. and two in Germany, with a total annual polypropylene
production capacity of 1.05 million tons. The two US manufacturing
plants located in Freeport, Texas and Seadrift, Texas will be fully
integrated into Braskem America, Inc. The two German plants located
in Wesseling and Schkopau will operate under Braskem Europe
GmbH.
The deal will deliver approximately $140 million in synergies
through a more diversified portfolio, leveraged fixed cost base and
working capital, logistics and supply optimization.
This acquisition brings a strong team that, combined with a
worldwide polypropylene production capacity of 4 million tons per
year, positions Braskem to provide a broader portfolio of products
and services to its customers.
"Braskem has a long term commitment to the polymers industry. We
see enormous potential for growth and innovation in thermoplastics
resins because of the endless uses in people's everyday lives,"
said Braskem's Executive Vice President of the International
Business Unit, Luiz de Mendonca. "We are very excited to grow our
partnership with our clients in North America and Europe."
Mark Nikolich, formerly VP of Commercial and Supply Chain for
Braskem America, has been named CEO and General Manager of Braskem
Europe GmbH. Mr. Nikolich brings to this role over twenty years of
experience in polyolefins and chemicals.
Robert Nadin, formerly VP of Innovation and Technology for
Braskem America, has been appointed VP of Commercial and Supply
Chain for polypropylene in North America. Mr. Nadin has more than
25 years of industry experience in a variety of positions in
research and development, business management, business
development, and technology licensing.
ABOUT BRASKEM
Braskem is the largest manufacturer of thermoplastic resins in
the Americas. With 35 industrial plants in Brazil, the United
States and Germany, the company produces more than 16 million tons
of thermoplastic resins and other petrochemical products
annually.
Headquartered in Philadelphia, Braskem America, a wholly owned
subsidiary of Braskem S.A., has five production facilities,
including three in Texas, one in Pennsylvania and one in West
Virginia, as well as its Technology and Innovation Center in
Pittsburgh. Braskem Europe GmbH, a wholly owned subsidiary of
Braskem S.A., operates two production facilities in Schkopau
Germany and Wesseling Germany.
CONTACT: Kerry Butler +1-215-790-4371
kbutler@tierneyagency.com
SOURCE Braskem S.A.