Brazil's plastics production is expected to slightly increase in 2017 as the economy slowly recovers from a recession that smothered domestic consumption for the past two years, according to projections from the country's trade associations and industry experts.
São Paulo-based Injequaly Indústria e Comércio Ltda., a joint venture between the Brazilian plastic injection molding company and the U.S. firm Viking Plastics, is moving to a larger facility in Brazil to expand production after its sales went up 51.7 percent in 2016.
A Brazilian federal court sentenced the former CEO of the country's largest construction company Odebrecht SA to more than 19 years in prison for involvement in a corruption scheme at state-run oil and energy firm Petroleo Brasileiro SA, or Petrobras.
German film manufacturer Infiana Group GmbH said Feb. 3 it sold its production facility in Brazil to local flexible packaging plastic producer Packing Group, in the midst of an economic recession that has led to acquisition opportunities in the South American country.
Mounting uncertainty within Brazil's plastics industry over long-term resin supply came to an end Dec. 23, when the market's biggest supplier, Braskem SA, reached a deal with Brazil's state-owned oil company Petrobras for a new naphtha contract, following three years of negotiations and deadline extensions.