SAO PAULO, Brazil, Aug. 3 /PRNewswire-FirstCall/ -- BRASKEM S.A. (NYSE:
BAK) (Bovespa: BRKM5) (Latibex: XBRK), leader in the thermoplastic resins
segment in Latin America and one of the three largest Brazilian
privately-owned industrial companies, today announced its results for the
second quarter of 2006 (2Q06).
* In the beginning of April 2006, Braskem acquired control of Politeno
for an initial down payment of US$ 111 million. Braskem now has 100% of
Politeno's voting share capital and 96.2% of Politeno's total
* Braskem implemented a share buy-back program with a duration of
180 days, under which Braskem has agreed to repurchase up to
13.9 million class "A" preferred shares (BOVESPA: BRKM5) and
1.4 million common shares (BOVESPA: BRKM3).
* Braskem's shareholders approved the merger of Polialden into Braskem in
an extraordinary shareholders' meeting.
* Braskem completed one year ahead of schedule the analysis of its
internal controls and has achieved full compliance with the
requirements of Section 404 of the Sarbanes-Oxley Act regarding
internal controls applicable to companies listed on the New York Stock
* The rating agency "Fitch Ratings Ltd." upgraded Braskem's foreign
currency rating (Issuer Default Ratings - IDR), reducing its risk of
issuer default, and its long-term national scale rating.
* Braskem announced the deposit of its second nanotechnology patent,
which is considered one of the most promising frontiers in polymers
science and the general materials sector.
* Petroquimica Paulinia renewed its provisional environmental license to
commence construction of a polypropylene plant in the City of Paulinia,
State of Sao Paulo, the annual production capacity of which is expected
to reach 300,000 tons.
* Braskem's EBITDA reached US$ 116 million in the 2Q06, compared to
pro-forma EBITDA of US$ 190 million recorded in the 1Q06 (including
US$ 51 million of non-recurring revenue).
* Braskem recorded net income of R$ 68 million in the 1H06, and a net
loss of R$ 54 million during the 2Q06.
Full information is available on the Company's IR website:
SOURCE Braskem S.A.