Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Braskem S.A.    BRKM5   BRBRKMACNPA4

BRASKEM S.A.

(BRKM5)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Braskem S A : Answer to CVM letter - Jornal O Globo 09/29/2020

09/29/2020 | 07:00pm EST
São Paulo, September 29, 2020
Brazilian Securities & Exchange Commission (CVM)
Ref.: Official Letter no. 320/2020/CVM/ SEP/GEA-1 - Request for clarification of media reports
Dear Sir/Madam:
In reference to Official Letter 320/2020/CVM/SEP/GEA-1 ('Official Letter'), dated September 28, 2020, through which you requested clarifications from Braskem S.A. ('Braskem' or 'Company') with regard to the report published in the newspaper O Globo, in the column of Lauro Jardim, as transcribed below:
'There's only problems.
If the R$8.7 billion that Braskem already has committed to pay in compensation for the subsiding of soil in four districts of Maceió, Alagoas were not enough, now the environmental liabilities are starting to emerge.
This time the problem is at Braskem's solvents plant in Madre de Deus, Bahia. The claim, dating from two decades earlier, involves soil contamination. Even Braskem could make the problem public to facilitate its sale, since the agents participating in the process are forcing the company to get all its skeletons out of the closet.'
In this regard, Braskem informs that, over 30 years ago a leak of chemical products occurred from a tank installed on a property owned by the company Companhia Carbonos Coloidais ('CCC'), located in Madre de Deus, Bahia. These products were property of the company Tecnor Tecnolumen Química do Nordeste Ltda. ('Tecnor') and may have been acquired by domestic producers at the time, including Companhia Petroquímica de Camaçari, a company that subsequently was merged into Braskem. Both CCC and Tecnor are companies that have never had any corporate relations with Braskem and no longer have any operating activities. Moreover, the Company clarifies that it has never had any industrial operation in the Municipality of Madre de Deus, Bahia.
In this sense and given the Company's experience in the chemical and petrochemical industry and related products, the authorities requested Braskem's collaboration for analysis, studies and environmental remediation, with monitoring by local authorities, which has been occurring since 2003, and is not related to any potential sale of the Company. For the remediation actions, the Company estimates the approximate amount of R$110 million, which has been partially provisioned.
Braskem has been having discussions with the authorities regarding the continuity of the required environmental remediation actions and will keep the market informed of any material developments related to the matter, to the extent required by applicable law, and cannot predict with certainty future developments in respect of this matter and the costs to be incurred by the Company may be different than estimated.
Lastly, Braskem reaffirms its constant efforts to act in compliance with the best environmental and social management practices, for its Team Members and local communities.
Sincerely,
Pedro van Langendonck Teixeira de Freitas
Chief Financial and Investor Relations Officer
Braskem S.A .

Disclaimer

Braskem SA published this content on 29 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2020 22:59:00 UTC


© Publicnow 2020
All news about BRASKEM S.A.
12/03BRASKEM S A : America's Pittsburgh Innovation & Technology Center Named Top Work..
AQ
12/03BRASKEM S A : wins the Chemical Week's Sustainability Awards
AQ
12/02BRASKEM S A : Idesa consortium says natural gas at Mexico plant suspended
RE
12/02Mexico has cut off gas supply of Brazil's Braskem, president says
RE
11/30BRASKEM S A : 2019 Integrated Report
PU
11/27BRASKEM S A : 2020 APIMEC Presentation
PU
11/26BRASKEM S A : advances in energy efficiency initiatives
PU
11/24BRASKEM S A : Gerdau and Braskem announce partnership with ITA and Alkimat to de..
PU
11/24BRASKEM S A : invites to its APIMEC, Public Meeting with Investors and Analysts ..
AQ
11/24BRASKEM S A : wins the Chemical Week's Sustainability Awards
AQ
More news
Financials
Sales 2020 51 911 M 10 113 M 10 113 M
Net income 2020 -4 638 M -903 M -903 M
Net Debt 2020 44 802 M 8 728 M 8 728 M
P/E ratio 2020 -3,79x
Yield 2020 0,01%
Capitalization 18 155 M 3 544 M 3 537 M
EV / Sales 2020 1,21x
EV / Sales 2021 0,98x
Nbr of Employees 4 700
Free-Float 25,4%
Chart BRASKEM S.A.
Duration : Period :
Braskem S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BRASKEM S.A.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 28,36 BRL
Last Close Price 22,05 BRL
Spread / Highest target 81,4%
Spread / Average Target 28,6%
Spread / Lowest Target 6,58%
EPS Revisions
Managers
NameTitle
Roberto Lopes Pontes Simões President & Chief Executive Officer
José Mauro Mettrau da Cunha Chairman
Pedro van Langendonck de Freitas CFO & Investor Relations Officer
João Cox Neto Vice Chairman
Gesner José de Oliveira Filho Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BRASKEM S.A.-26.13%3 544
SAUDI BASIC INDUSTRIES CORPORATION2.98%77 337
AIR LIQUIDE6.54%77 083
WANHUA CHEMICAL GROUP CO., LTD.48.03%39 905
LYONDELLBASELL INDUSTRIES N.V.-9.37%28 593
HENGLI PETROCHEMICAL CO.,LTD.56.22%27 028