ODEBRECHT

LyondellBasell announced it has ended discussions regarding the potential acquisition of Braskem.

LyondellBasell Industries continues discussions to purchase a controlling stake in Brazilian petrochemical maker Braskem from Odebrecht, despite delays due to political changes in Brazil.

LyondellBasell Industries and Odebrecht S.A., controlling shareholder of Braskem, have entered exclusive talks regarding a potential merger that would give LyondellBasell a controlling stake in Braskem. The announcement was made on June 20, 2018.

LyondellBasell made a bid to acquire Brazilian polyolefins producer Braskem, valuing it at R$41.5 billion ($11.4 billion). The proposal was presented to Odebrecht, which owns a 50.1% voting stake, and requires approval from Petrobras.

Rotork Brazil supplied 136 IQ electric actuators for the upgrade and expansion of the Rio Manso water treatment plant in Brumadinho, Brazil. The project is the first P3 project by COPASA.

JUARISTI has been selected by ODEBRECHT to supply an MX9RAM boring-milling machine for machining components of submarines to be built at the new Itaguaí shipyard for the Brazilian Navy.