Eurocontrol Technics Inc., a Canadian public company, through its wholly owned subsidiary Global Fluids International S.A. (GFI), has inked its first petrochemical marking contract in Brazil with Braskem. Braskem is the largest Latin American petrochemical company with a market capitalization US$3.6bln, while Eurocontrol specializes in the acquisition, development and commercialization of innovative authentication, verification and energy security technologies.
"Brazil is an important and large potential market with an impressive annual growth rate and a need for our products," commented Bruce Rowlands, President and CEO, Eurocontrol Technics. “This contract is the result of the marketing approval granted to GFI and its Petromark(TM) technology by ANP (Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis), the Brazilian National Oil Agency, in 2009.”
Eurocontrol's innovative Petromark ™ marking solution addresses two major problems in the petrochemical industry - combating the trade in illicit petrochemical products and providing brand protection for large petrochemical companies. As the price of oil has increased substantially, such problems have become a higher priority for government and corporate officials to address.