Braskem & INEOS Technologies Enter Strategic Partnership for Polyethylene (PE) Technologies

PHILADELPHIA, Nov. 12, 2010 /PRNewswire/ -- Braskem and INEOS Technologies have entered into a strategic partnership for PE technologies, under which Braskem is able to acquire licenses for Innovene S slurry and Innovene G gas-phase technologies to produce high density PE and linear low density PE, in future petrochemical projects. In addition, Braskem and INEOS Technologies will jointly conduct research and development programs for the slurry and gas-phase PE platforms.

The first petrochemical project to benefit from the partnership is the Etileno XXI project in Mexico, a project that is the basis of the newly established Braskem IDESA S.A.P.I joint venture between Braskem and GRUPO IDESA.

The two Innovene S plants that will be a part of the Etileno XXI complex in Coatzacoalcos are scheduled to start-up in January 2015.

The plants will produce a full range of monomodal and bimodal high density and medium density polyethylene resins, with a total name plate capacity of 750 KTA. Key product areas to be served by the new plants include pipe, blow molded containers, injection molding parts, film, and rotomolded tanks.

Dr. Peter Williams, CEO, INEOS Technologies, stated: "INEOS is delighted to be entering into this strategic partnership with Braskem.  Under the agreement, INEOS Technologies will offer polyethylene licenses to Braskem's future investments, and the two companies will work together on joint developments. The aim of the joint R&D is to help ensure that the combination of INEOS' Innovene G and Innovene S technologies remains the leading offer to the market in Latin America and beyond, responding fully to the future needs of the polymer industry. For the Etileno XXI project, the Innovene S technology will provide high quality polyethylene resins for the much diversified high density PE market in Mexico. INEOS Technologies is proud that Innovene S technology is part of this major investment in the Latin American region."

Mr. Bernardo Gradin, President, Braskem, commented: "Our agreement with INEOS gives us access to state-of-the-art high density and linear low density polyethylene technologies, which also enables Braskem to directly participate in joint developments of these technologies. This will allow Braskem to use the Innovene S and Innovene G technologies in its expansion program, starting with the Etileno XXI project with our partners GRUPO IDESA in Mexico, as well as the intended projects in Peru and Bolivia. It is a very important step in providing Braskem clear access to existing leading polymerization technologies, allowing the company to concentrate its efforts on the internal development of bio-based renewable technology - a fundamental move to fulfill our 2020 vision of being the world's leading renewable chemistry company."

ABOUT BRASKEM

Braskem is the largest producer of thermoplastic resins in the Americas. With 31 plants located throughout Brazil and the Unites States, the company produces more than 14 billion pounds of thermoplastic resins each year.

SOURCE Braskem

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