Braskem Reports First-Quarter Earnings, Issues Update on Ethylene XXI

Braskem reported first-quarter net income of $78 million, down 50% from the year-ago quarter, due to pricing pressures and increased raw material prices. Braskem also cites progress with  Ethylene XXI, a 1.1 million m.t./year plant slated for start-up at Coatzacoalcos in 2015. Braskem says the "earth moving element" is 40% complete “in preparation for the start of construction in May of next year,” in line with the timetable approved for the project, which “should ensure its startup in...

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