In a move which represents an important step forward in the implementation of Braskem´s growth strategy, value creation and the consolidation of its integrated business model, Braskem has acquired Politeno. The aquisition was completed through an agreement in which Braskem will purchase all of the total and voting share capital owned by Suzano Petroquímica S.A., Sumitomo Chemical Co. and Itochu Corporation in Politeno. Upon completion of this acquisition, Braskem will own 100% of the voting share capital and 96.15% of the total share capital of Politeno. Braskem will make an initial payment in an aggregate amount of US$111.3 million (US$60.6 million to Suzano Petroquímica and US$50.7 million to Sumitomo and Itochu). The final value of Politeno will be calculated based upon Politeno"s operating performance during the next 18 months, as measured by variations in polyethylene and ethylene margins in the Brazilian petrochemical market.
Politenos average annual production capacity of polyethylene for the last three years has been 320,000 tons. Braskem intends to operate the plant at the limit of its annual production capacity and plans to increase Politeno's annual production capacity to 400,000 tons of polyethylene in 2007, with an estimated investment of US$10 mln.
04-Apr-07 
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