Braskem plans to re-invest

Almost a year later to impose greater financial stringency, considering the adverse scenario for the petrochemical industry, Braskem plans to resume their investments. "The company begins to assess his portfolio to resume investment in the country," said Carlos Fatigues, President of the group.
Fatigues gave no timetable for when you will be able to re-invest. In this package, the project did not include the petrochemical Comperj (Rio de Janeiro petrochemical complex), which is expected to go into operation in 2018, or green resin projects. "In recent months, we were asking for measures to encourage the Government, which announced the exemption of PIS/Cofins. Now let's meet our part. "
The announcement was made yesterday during the company's results. After closing 2012 in the red, the company reported net income of r $ 227 million in the first quarter, an increase of 49% over the same period last year. The net revenue of the Group ended the period at r $ 9,296 billion, up 15% on the first quarter of last year. The earnings before interest, taxes, depreciation and amortization (Ebitda) consolidated was R $ 937 million, up 19% over the first quarter of 2012.
The company has, however, its intention to dispose of non-strategic assets, as it did at the end of last year, with the sale of two water companies. Two other companies are negotiating for waste Odebrecht. QuantiQ chemicals distributor was also put up for sale since last year.
Fatigues stated that Braskem will maintain investments of approximately r $ 2.2 billion for this year for organic expansion, but declined to comment on whether the company is in negotiation for the purchase of assets of Belgian Solvay Indupa PVC in Brazil and in Argentina.
In the first quarter, the power plants of petrochemicals in Brazil started to operate 90% of its full capacity. In the fourth quarter, the Group's central operated the 82% of capacity. According to Fatigue, the company also recorded an increase of one percentage point of market share, totaling a 71% share in the domestic market. "We work to advance in ' market share ' since last year," said Fatigue. In 2011, petrochemistry held 65% share. The company is losing share to imported products.