PHILADELPHIA, Aug. 17, 2020 /PRNewswire/ -- Braskem (B3: BRKM3, BRKM5 and BRKM6;NYSE: BAK; LATIBEX: XBRK), the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, today announced the launch of its new INSPIRE polypropylene (PP) grade designed to replace polyethylene terephthalate (PET) in consumer packaging applications such as ready-made meals at grocery stores and fast casual restaurants when higher temperature resistance is needed.
Braskem offers the new PP thermoforming grade, as part of its INSPIRE series, which can be an excellent replacement for PET. Braskem's INSPIRE series of value added polypropylene products offers enhanced performance attributes delivering a distinctive balance of performance and sustainability, providing Braskem clients differentiated products versus commodity grade polymers. The new grade has optical properties that approach PET, with improved thermal properties over PET and traditional random copolymer polypropylene. The new grade is suitable for thermoformed applications which demand a great balance of clarity and heat resistance, such as store and restaurant pre-prepared and ready-to-heat meals. The improved heat resistance allows these containers to be used in the dishwasher for continued re-use.
Alexandre Elias, Braskem America Vice President, Polyolefins commented, "Our INSPIRE series offers an attractive balance of performance and sustainability with a simplified pellet management solution. The INSPIRE series allows thermoformers to utilize a single pellet for a wide-range of applications that require varying levels of stiffness, clarity or impact creating a simplified inventory approach. This latest polypropylene grade is designed as an ideal solution to replace PET because of its recyclability and unique properties."
In June, Braskem announced the construction completion of its world-class polypropylene production line in La Porte, Texas. Braskem's new facility has a designed production capacity of over 450 kilotons (kt) or 1 billion pounds per year and has the capability to produce the entire polypropylene portfolio including a broad range of polypropylene products including homopolymer, impact copolymer and random copolymers. Initial production test runs began in July with the first full scale commercial production activity currently expected in the third quarter of 2020.
With a global vision of the future oriented towards people and sustainability, Braskem is committed to contributing to the value chain for strengthening the Circular Economy. The petrochemical company's almost 8,000 team members dedicate themselves every day to improve people's lives through sustainable chemicals and plastics solutions. Braskem has an innovative DNA and a comprehensive portfolio of plastic resins and chemical products for diverse segments, such as food packaging, construction, manufacturing, automotive, agribusiness, healthcare and hygiene, among others. With 41 industrial units in Brazil, the United States, Mexico and Germany, and net revenue of R$52.3 billion (US$13.2 billion), Braskem exports its products to clients in more than 100 countries.
Braskem America is an indirect wholly owned subsidiary of Braskem S.A. headquartered in Philadelphia. The company is the leading producer of polypropylene in the United States, with six production plants located in Texas, Pennsylvania and West Virginia, an Innovation and Technology Center in Pittsburgh, and operations in Boston focused on leveraging groundbreaking developments in biotechnology and advanced materials. For more information, visit www.braskem.com/usa.
FORWARD LOOKING 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 Securities Exchange Act of 1934, as amended) regarding 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 risk 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 herein include, without limitation: (i) the continuation of restrictions related to the COVID -19 Pandemic or the continuing effects of the Pandemic; (ii) the contraction or lack of growth in the market segments in which Braskem competes and in which its products are sold (ii) increased competition from imports or in the 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's facilities and its suppliers and (vi) other factors detailed in documents Braskem files from time to time with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.