26 March 2008 23:51 [Source: ICIS news]
HOUSTON (ICIS news)--Brazil's petrochemical producers are set to join the world's top companies, a Braskem executive said on Wednesday.
Braskem had already showed signs of growth in 2007, said Manoel Carnauba Cortez, vice president of the basic petrochemicals unit of Braskem. Carnauba was speaking to the DeWitt World Petrochemical Review, held in Houston by DeWitt & Co.
Exports reached $2.3bn (€1.5bn), he said. In addition, 20% of the company's sales came from products introduced in the past three years.
By 2012, Carnauba's company will rank among the top 10 petrochemical firms in the world in terms of market capitalisation, he said.
Braskem and other companies are adding ethylene capacity in Brazil, which will use both traditional and renewable feedstock, he said.
Polietilenos Uniao plans to start a 200,000 tonne/year ethylene unit in 2008. A 1.3m tonne/year ethylene unit will open in the next few years at Comperj (Complexo Petroquimico do Rio de Janerio).
Braskem is scheduled to start a 200,000 tonne/year ethylene unit in 2010 that will use ethanol as a feedstock. Dow Chemical will start its own 350,000 tonne/year ethanol-derived ethylene unit in 2013.
($1 = €0.64)
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