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Braskem operates US/Europe PP assets at 101% in 1Q
HOUSTON, May 15, 2017 (PCW) -- Braskem's PP plants in the US and Europe achieved rates of 101% in 1Q 2017, the company said today in an earnings-related release.
Total 1Q PP output was 525,867 mt, up 9% from 482,170 mt in 4Q 2016 and up 5% from 499,233 mt in 1Q 2016.
The company has PP capacities of 1,570,000 mt/yr in the US and 545,000 mt/yr in Europe.
US 1Q output benefitted from a 4Q 2016 debottlenecking operation at the Marcus Hook, PA plant that added 105,000 mt/yr capacity.
Braskem said US 1Q PP demand was stronger than the prior quarter, which it attributed to general restocking activity and seasonal trends in the caps and closures sector as well as the film sector. The company also noted that the US consumer goods and non-wovens sectors showed year-over-year demand growth of 5% as a result of lower volumes of imported finished goods in early 2017 compared with early 2016.
The company reported 1Q PP sales of 534,338 mt, resulting in revenue of $771 million. -- David Barry