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)
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