White Martins Reaches New Contract with Braskem

On Wednesday July 13, 2011, White Martins, a Brazil- based subsidiary of Praxair, Inc. (NYSE:PX), an American based Production Company of industrial gases has entered into a 15-year agreement with Braskem, America’s largest petrochemical company. The agreement is reached upon the supplication of nitrogen and oxygen to Braskem by White Martins.

For the supplication of Braskem’s extended polyvinyl chloride (PVC) unit in the state of Alagoas,which is in the northeastern region of Brazil, a cryogenic on-site air separation plant possessing a capacity of 200 ton per day will be constructed and operated by White Martins.Braskem has made an approximate investment of $635 million in the latest industrial unit. The unit will begin its operation in the early half of the succeeding year, i.e. 2012.

Marcelo Cerqueira, braskem’s vinyls business director said “the support of White Martins for this project is significant, because,with a view to explicate our production, a new technology that needs the supply of oxygen will be utilized. and further, this venture will result in making the twenty years old partnership more concrete.”

President of White Martins, Domingos Bulus acknowledged that, they are honored to be an integral part of a venture that is expected to be beneficial to the economy of both Brazil and the state of Alagoas.

Braskem is considered to be the world’s leading producer of biopolymers. It counts for the production of 15 million tons of thermoplastic resins and other petrochemical products. Its basic strategy is the promotion of sustainable development. Whereas, White Martins is a well renowned supplier of an array of industrial gases and technologies to its valued customers across eight other South American countries including Brazil.


The assembled information distributed by headlineotc.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Headlineotc.com does expect that investors will buy and sell securities based on information assembled and presented herein. Headlineotc.com will not be responsible in any way for or accept any liability for any losses arising from an investor’s reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.

Our Research Report on is now available. Don´t Trade until you Read our FREE FULL REPORT. Click Here