Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ______ No ___X___
Braskem signs
memorandum of understanding with Pequiven
The objective is to evaluate business
opportunities in Venezuela
Braskem and Pequiven, the petrochemical arm of Venezuelan oil company PDVSA, have signed a memorandum of understanding to evaluate opportunities of developing business together in Venezuela within Braskems strategic focus thermoplastic resins. An agreement to this effect was signed within the context of the bilateral meeting of the presidents of Brasil, Luís Inácio Lula da Silva, and Venezuela, Hugo Chavez, which took place on February 14 of this year.
Access to raw materials with the appropriate quality, quantity and competitive cost is a strategic question for the petrochemical industry. Within this context, Venezuela offers major opportunities. It has the largest reserves of oil and natural gas in Latin America and occupies a strategic position in geographic and logistical terms compared to other international markets.
For its part, Braskem is studying the best alternatives for its sustained growth within a perspective of a strong increase in demand for thermoplastic resins on the domestic and regional markets and in line with its commitment to create value for its shareholders .
The studies to be carried out together with Pequiven are supplemental to the growth projects that already have been identified by Braskem, such as a new polypropylene plant in partnership with Petrobras in Paulínia (SP) and a new integrated polyethylene center on the Brazil-Bolivia border, based upon Bolivian gas. Braskems eventual participation in these projects will be supported by its own generation of operating cash and loans from development banks and multilateral lending institutions.
|
February 14, 2005
For further
clarification, please contact:
Fernanda Zanichelli / CL-A Comunicações
Tel.: 11
3443-9099 / 11 3082-3977
fernanda@gruparc.com.br
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: February 14, 2005
BRASKEM S.A. | |||
By: | /s/ Paul Elie Altit | ||
Name: | Paul Elie Altit | ||
Title: | Chief Financial Officer |