Braskem’s Earnings Tumble on Acquisition Costs

Grubisich: Ipiranga buy hurt results. Braskem reported fourth-quarter 2007 net income down 79%, to R27 million ($15.5 million), compared to the same year-ago period. The company cites costs of acquisitions including its $1.1-billion purchase of a 60% share of Ipiranga Group’s (São Paulo) petrochemical assets last year (CW, March 28, 2007, p. 7). Sales rose 4%, to R6 billion. Braskem says that it expects the global petchem sector to benefit from high growth rates in China, India, and other significant petchem markets. Braskem expects the Brazilian...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers