Braskem’s new Global Export Hub facilities provide packaging, storage and export shipping services to support the company’s six polypropylene (PP) production facilities in the United States: four in Texas (La Porte, Oyster Creek and Seadrift), one in Pennsylvania (Marcus Hook), and one in West Virginia (Kenova) The Global Export Hub is capable of supporting export shipments of up to 450 million pounds (204 Kilotons) of polypropylene and special polymers annually to Braskem customers worldwide.
Braskem is a partner of the Port of Charleston and third-party logistics providers to build, lease and provide services to Braskem under a five-year contract. Braskem will also continue to leverage its existing international export capacity from Houston, Texas. The new South Carolina The facility also complements Braskem’s existing network of Global Export Hubs, which includes facilities in North America, South Americaand Europe.
Mark Nikolich, Braskem America’s CEO commented: “As the largest producer of polyolefins in the Americas and the largest producer of polypropylene in North America, Braskem is focused on reinvesting in its business and leadership positions to support our customers worldwide. Our new Global Export Hub in South Carolina provides additional flexibility for our global polypropylene business. ”
Alexandre Elias, Vice President, Olefins and Polyolefins of North America, further commented that “Given the current tight market in North America, we are prioritizing our domestic customers, but over time, the hub will allow us to leverage our polymer production assets with raw material advantage in the USA Gulf Goast, Pennsylvaniaand West Virginia, to better meet the needs of our international customers. With excellent access to the national rail and road networks, this important new logistics and distribution facility in the South Carolina port region significantly increases Braskem America’s international export capacity. ”
The port of Charleston features daily intermodal and freight express rail services and more than 20 shipping companies that deliver export cargo between Charleston and more than 150 nations worldwide. In 2019, the South Carolina Port Authority (SCPA) managed a record 2.44 million units of containers equivalent to twenty feet (TEUs).
Construction activity to support Braskem America’s new Global Export Hub in Charleston positively impacted economic activity in the region with approximately 150 development and construction workers hired throughout the process to design and fully build the facility. In addition, about 60 new permanent jobs have been created in the Charleston region to support the installation, covering on-site operations management, packaging, logistics and more. The total economic impact that comes from the SCPA produces a 2.4 statewide job multiplier. This implies that, on average, for every 10 new jobs that are directly supported by SCPA port operations or port users, an additional 14 jobs are created elsewhere in the South Carolina.
ON SOUTH CAROLINA PORTS AUTHORITY
The South Carolina Port Authority (SCPA), established by the State General Assembly in 1942, owns and operates public ports and intermodal facilities in Charleston, Dillon, Georgetown and Greer. As an engine of economic development for the state, port operations facilitate 225,000 jobs across the state and generate almost $ 63.4 billion annual economic activity. SCPA will soon be home to the deepest port on the U.S. East Coast, 52 feet away, and the port is an industry leader in providing speed to the market, continuous processes and flexibility to ensure reliable operations, handling of large ships, efficient market reach and environmental responsibility. For more information about SCPA, visit www.scspa.com.
ABOUT BRASKEM
With a global vision of the future focused on people and sustainability, Braskem is committed to contributing to the value chain for strengthening the Circular Economy. The nearly 8,000 members of the petrochemical company’s team are dedicated every day to improving people’s lives through solutions in plastics and sustainable chemicals. Braskem has an innovative DNA and a broad portfolio of plastic resins and chemicals for various segments, such as food packaging, construction, manufacturing, automotive, agribusiness, health and hygiene, among others. With 40 industrial units in Brazil, the United States, Mexico and Germany, and net revenue from R $ 52.3 billion ($ 13.2 billion), Braskem exports its products to customers in more than 100 countries.
Braskem America is an indirect wholly owned subsidiary of Braskem SA headquartered in Philadelphia. The company is a leader in the production of polypropylene in the United States, with six factories located in Texas, Pennsylvania and West Virginia, an Innovation and Technology Center in Pittsburgh, and operations in Boston focused on leveraging innovative developments in biotechnology and advanced materials. For more information, visit www.braskem.com/usa.
PROSPECTIVE STATEMENTS
This press release contains projections and other forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Stock Exchange Act of 1934 , as amended) on future events. These statements reflect Braskem’s current beliefs and expectations with respect to Braskem’s business, the economy and other future conditions and are based on assumptions, are subject to risks and uncertainties and are subject to change at any time. Actual events or results may differ materially from those contained in such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements contained in this document include, but are not limited to: (i) the continued restrictions related to the COVID -19 pandemic or the continuing effects of the pandemic; (ii) the retraction or lack of growth in the market segments in which Braskem competes and in which its products are sold (ii) unexpected delays in commissioning, (iii) increased competition from imports or export markets, (iv) inability to anticipate future market trends and the future needs of Braskem’s customers, (v) the impact of natural disasters on Braskem La Porte installation and its suppliers and (vi) other factors detailed in documents that Braskem periodically files with the Brazilian Securities and Exchange Commission. The forward-looking statements in this release are made in accordance with the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
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