Braskem’s Earnings Fall on Lower Operating Income

Braskem reported fourth-quarter net income of R27 million ($15.5 million), down 79% over the year-ago period. The company cites because of costs related to the acquisition of Ipiranga Group's (São Paulo) petrochemical assets. Sales rose 4%, to R6 billion. Looking forward, Braskem says that it expects the global petrochemical sector to benefit from high growth rates in significant petchem markets, such as China and India. Braskem expects the Brazilian market for thermoplastics resins to grow 8%-10% in 2008, driven by demand from the construction, automobile...

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