Friday, October 15, 2010

Braskem, Brazilian Leader in Chemicals Returns +342%

We posted about Braskem a year ago, on October 7 2009. The company is the best performing Brazilian stock that trades in the NYSE (as an ADR).

The company makes plastics out of sugar cane and had announced at the time a major deal with J&J. "Made with 100% renewable raw materials, Braskem's Green Ethylene is produced from the dehydration of ethanol from sugar canes (the same that is currently used as fuel in hybrid cars) and then polymerized into green polyethylene. "Green Resin" is considered a watershed in the polymer market. It has the same appearance and properties of traditional plastics in the final product, the difference is that it can capture CO2 from the atmosphere, i.e. one ton of green resin captures 2.5 tons of CO2".

We track all Latin American ADRs live here.

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