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BAK News Highlights
- BAK's 30 day story count now stands at 7.
- Over the past 15 days, the trend for BAK's stories per day has been choppy and unclear. It has oscillated between 1 and 3.
- The most mentioned tickers in articles about BAK are SA, BETS and HALL.
Latest BAK News From Around the Web
Below are the latest news stories about BRASKEM SA that investors may wish to consider to help them evaluate BAK as an investment opportunity.
Petrobras (PBR) is considering increasing its share in the petrochemical company Braskem, with the objective of streamlining a potential sale to international investors.
(Bloomberg) -- Latin America’s largest petrochemical firm Braskem SA was stripped of its investment-grade status at Fitch Ratings, in the latest blow to a company that’s under increasing pressure as the collapse of a salt mine it operates in Brazil’s Northeast risks engulfing part of a town. Most Read from BloombergRange Rovers Become Thief-Magnets, Causing Prices to TumbleOwner of the Philippines’ Largest Malls Says China Feud May Hurt BusinessesCiti Shuts Muni Business That Once Was Envy of Ri
Brazil's Congress committed on Wednesday to a federal investigation into petrochemical company Braskem over the sinking soil in the city of Maceio, which has forced about 60,000 people to be moved since 2018. The launch of an official investigation in Brazil's Congress follows a Sunday breach of one of Braskem's more than thirty salt mines under Maceio, a coastal city with nearly 1 million people in Brazil's northeast region.
Brazil's Congress committed on Wednesday to a federal investigation into petrochemical company Braskem over the sinking soil in the city of Maceio, which has forced about 60,000 people to be moved since 2018. The launch of an official investigation in Brazil's Congress follows a breach on Sunday of one of Braskem's more than thirty salt mines under Maceio, a coastal city with nearly 1 million people in Brazil's northeast region.
Moody's cut Brazilian petrochemical Braskem's rating to Ba2 from Ba1 on Tuesday, citing the risk of additional provisions related to troubled operations in the city of Maceio at a moment of high financial leverage. Moody's also downgraded Braskem's rating outlook to negative from stable. Braskem has spent about 9.2 billion reais ($1.85 billion), with over 5 billion reais provisioned, on socio-environmental agreements related to that operation.
The city hall of Brazil's northeastern city of Maceio has asked to negotiate a new compensation agreement with petrochemical firm Braskem over the expansion of a risk area linked to sinking ground in the city, it said on Wednesday. The request comes five months after the city and Braskem reached an agreement for the payment of 1.7 billion reais ($347.14 million). Maceio's civil defense office warned last week that Braskem's salt mine number 18, located near a lake in the Mutange neighborhood, was at imminent risk of collapse.
(Bloomberg) -- Bonds in Latin America’s largest petrochemical company Braskem SA are getting hammered as the collapse of a salt mine it operated in northeastern Brazil sinks parts of a city of one million people into the sands.Most Read from BloombergElon Musk's SpaceX Valued at $175 Billion or More in Tender OfferApple Readies New iPads and M3 MacBook Air to Combat Sales SlumpGlobal Bonds Power Ahead as Dovish Bets Take Hold: Markets WrapKevin McCarthy Leaving House Months After Ouster as Speak
Brazilian petrochemical producer Braskem is facing a new 1 billion real ($203 million) lawsuit over damages that its salt mines have caused sinking ground in the city of Maceio and forced evacuations, the company said on Thursday. The lawsuit, which state and federal prosecutors filed against the company and the city, seeks an expanded risk area related to ground subsidence and requiring Braskem to compensate more families. The announcement comes after Maceio's civil defense office warned on Wednesday that Braskem's salt mine number 18, located near a lake in the Mutange neighborhood, was at imminent risk of collapse.
CORRECTING and REPLACING Braskem EVA Recycling Technology Research Partnership Awarded RD&D Grant from the REMADE Institute
PHILADELPHIA, November 28, 2023--Please replace the release dated November 20, 2023 with the following corrected version due to multiple revisions.
Braskem Announces REMADE Institute Grant Award to Develop New Recycling Process Technology to Extract Pure Polypropylene from PCR
PHILADELPHIA, November 20, 2023--Braskem (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) ("Company"), the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, today announced its polymer recycling technology research partnership has been awarded a $600,000 Research, Demonstration, and Development (RD&D) grant from the Reducing Embodied Energy and Decreasing Emissions (REMADE) Institute, a public-private partnership established by the United States