Brazil’s Braskem posts stronger financial results in Q2
Braskem’s petrochemical plants meanwhile operated at an average capacity utilization rate of 93% in the second quarter of 2015, up 4% from the first quarter of 2015. This strong performance was attributed to operating efficiency stemming from streamlined processes and investments made in recent years. Braskem’s average utilization rate excluding the gas-powered unit in Rio de Janeiro reached 97%. The Rio de Janeiro unit is currently facing feedstock supply issues. The company’s average capacity utilization rate of its PP plants in the USA and Europe exceeded normal capacity and reached 101%, posting a record production of 506,000 tons. This strong performance was attributed to an increase in production at the company’s plants stemming from better operational reliability of the company’s assets. PP sales grew by 7% in the USA in line with solid demand for consumer goods, automobiles and the strong packaging sector in the country.
Braskem’s resin sales within Brazil declined by 17%, which the company attributed to a deterioration in the economic state of the country. However, the company’s export sales rose 53% year over year in the second quarter.
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