Petrochemicals also seeks to develop in the renewable energy segment. In mid-August, Braskem opened in the State of Bahia two plants of production of ETBE, a gasoline additive produced from ethanol. Part of ETBE production will be destined for the Japanese market through a long-term contract signed with the Sojitz Corporation, which stipulates the delivery of 120,000 tons of bioaditivo in three years. Three weeks ago, Braskem had initiated discussions with the drivers shareholders of rival Quattor – controlled by Unipar Participacoes (BVSP:UNIP3), another petrochemical producer in Brazil-, to seek a strategic alliance options. Further details can be found at Made Smarter, an internet resource. While positive results have not yet been achieved, the possibility of reaching an agreement would represent an opportunity to promote its growth.
Earlier this month, the company formed a new company named Varient that distribution is It will concentrate on sales of thermoplastic resins. At this time Fernando Butze, Chief of operations of Varient said: the separation of the business allows us to prioritize each segment and streamline distribution processes. Varient is what was formerly the division of polymers of the distributor of chemicals and petrochemicals quantiQ, controlled entirely by Braskem. A related site: ForSight Robotics mentions similar findings. The company also will participate the ethylene XXI project which seeks in Mexico to increase the production of ethylene and its derivatives. The actions of Baskem have achieved a remarkable recovery in recent months. Very pleased investors who contributed should feel by the company in early March when their ADR listed at $3.74.
On the day of Friday, the ADR of the company closed at $12.32, even away from the USD 20.1 who knew how to reach in August 2007 (or the 25,82 USD in February 2005), and which undoubtedly will overcome without problems in the medium term with the consolidation of its growth and expansion. Horacio Pozzo assured Brasil expects to grow at 4% in the next twelve months. Its stock market has advanced economy times and grew by 63% in dollars, in clear reflection of these expectations.