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Braskem Eyes Triunfo; Targets Top-10 Global Petchem Position

1:33 PM MDT | July 24, 2007 | Peck Hwee Sim in San Antonio

Braskem (São Paulo) is eyeing petrochemical producer Petroquimica Triunfo (Porto Alegre, Brazil), says José Carlos Grubisich, CEO of Braskem. Petrobras is the majority shareholder in Triunfo (Rio de Janeiro). It is a logical progression for Braskem to merge Triunfo into its operations, following Braskem’s and Petrobras’s planned acquisition of the petchem assets of Ipiranga Group (São Paulo), Grubisich says (CW, March 28, p. 7). There are no discussions as yet but the deal could happen later this year or in 2008, he says...

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