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For more information, visit our José Marcos Treiger
Luiz Henrique Valverde
Luciana Ferreira |
Braskem Announces Share Buy-Back São Paulo, May 4, 2006 --- BRASKEM S.A. (BOVESPA: BRKM5; NYSE: BAK; LATIBEX: XBRK) leader in the thermoplastic resins segment in Latin America and one of the three largest Brazilian privately-owned industrial companies, announces that, as in light of its current share prices, Braskems board of directors authorized its management to implement a buy-back program to repurchase common and class A preferred shares in accordance with the terms of CVM Instruction No. 10/80, as follows:
This initiative is intended to capture an important potential for value creation due to the current price of the Companys shares. According to José Carlos Grubisich, Braskems CEO, This buy-back program is additional evidence of Braskems strategic vision to create value for all of its shareholders and of its long-term commitment to the domestic and
international capital markets. |
Braskem, a world-class Brazilian petrochemical company, is the leader in the thermoplastic resins segment in Latin America and is among the three largest Brazilian privately-owned industrial companies. The company operates 14 manufacturing plants located throughout Brazil and has an annual production capacity in excess of 6 million tons of thermoplastic resins and other petrochemical products. |
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This press release contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are only predictions and are not guarantees of future performance. Investors are cautioned that any such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the operations and business environments of Braskem and its subsidiaries that may cause the actual results of the companies to be materially different from any future results expressed or implied in such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the risks and uncertainties set forth from time to time in Braskem's reports filed with the United States Securities and Exchange Commission. Although Braskem believes that the expectations and assumptions reflected in the forward-looking statements are reasonable based on information currently available to Braskems management, Braskem cannot guarantee future results or events. Braskem expressly disclaims a duty to update any of the forward-looking statements. |
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: May 3, 2006
BRASKEM S.A. | |||
By: | /s/ Paul Elie Altit | ||
Name: | Paul Elie Altit | ||
Title: | Chief Financial Officer |