12 May 2011 11:49 [Source: ICIS news]
SINGAPORE (ICIS)--Japanese trading firm Marubeni Corp and Brazil’s Braskem have entered a five-year purchase agreement for butadiene (BD), a Marubeni company source said on Thursday.
Under the agreement, which is valued at $550m (€385m), Marubeni will purchase more than 200,000 tonnes of BD over the course of five years, according to the source.
Braskem is expanding its BD capacity with a new 100,000 tonne/year plant in Brazil that is scheduled to begin production in 2013.
The two companies are “discussing further expansion of the trade business and seeking future opportunities for new projects”, especially in major growing economies in the BRIC (Brazil, Russia, India and China) countries, Marubeni said in a statement on Wednesday.
BD is used in the production of synthetic rubber for automobile tyres and other rubber products.
($1 = €0.70)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections