Braskem, Brazil's largest petrochemical company, posted a Q4 net loss of Brazil Reais BRL 2.1 bln (aprrox. US$878.2 mln) as against BRL 101 mln (US$42.2 mln) for the same period in 2007. The dismal shhow in the quarter was a result of steep decline in petrochemical demand due to lack of financing and prevalent customer destocking activity on the customer's side all along the chain.
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Friday, March 06, 2009
Braskem swings to Q4 net loss due to demand downturn, customer destocking
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