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Brazil (599)


BRAZIL

Brazil blocks Braskem's acquisition of Solvay Indupa (update, adds Braskem comment)
Brazil's competition authority CADE (Brasilia) has rejected Braskem's proposed acquisition of Solvay's 70.59% stake in chlorvinyls company Solvay Indupa (Buenos Aires). The decision was taken during a public hearing held on 12 November, Solvay says. CADE...

Tribunal—Petrobras overpaid contractors for refinery projects
TCU (Brasilia), Brazil's tribunal that oversees state spending, says that Petrobras allowed suppliers and contractors to overcharge on contracts for refineries and other projects. Preliminary findings indicate that state-controlled Petrobras may have overpaid...

Braskem's net income down 42%
Braskem reported net profit of 230 million reais ($91.7 million) in the third quarter, down 42% year-on-year (YOY), according to the latest company results released today. The company's adjusted Ebitda amounted to R$1.5 billion—$660 million in dollar...

Oxiteno operating income drops 45% on economic slowdown
Oxiteno, the chemical subsidiary of Ultrapar (São Paulo), reported 62.1 million reais ($24.8 million) in operating income during the third quarter, down from R$113.1 million in the third quarter of last year, according to Ultrapar's latest results...

Brazil's chemical imports up almost 9% in September
Brazil imported $4.2 billion of chemicals during the month of September, an increase of 8.9% compared with September 2013, according to figures released by Abiquim (São Paulo), Brazil's chemical industry association. Fertilizer intermediates remained...

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