According to May 24 report in Valor Economico, LyondellBasell's offer for a controlling stake in São Paulo-based Braskem values the company at 41.5 billion Brazilian real ($11.5 billion).

One of Braskem SA's polyethylene production units in southern Brazil's Triunfo petrochemical complex suffered an explosion and fire on Dec. 4, halting operations at the unit.

UPDATED: If a deal did happen, it would combine two of the largest North American makers of polypropylene resin, and two major global polyethylene suppliers.

Plastics-related businesses in Florida were spared major damage from Hurricane Irma, with many resuming activities a few days after the storm, according to companies contacted by Plastics News.

Plastics-related businesses in Florida are just starting to gauge the losses caused by Hurricane Irma over Sept. 10-11, but preliminary assessments shows the storm had spared industries from major damage.

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.

Brazil's Feiplastic, a trade show promoted by the country's lead plastics industry association Abiplast, announced Aug. 17 a new location for 2017.

Whether the medal being awarded at the Rio 2016 Olympics Games in Brazil this month is gold, silver or bronze, the ribbon those medals are hung from will come from plastics, with half the content coming from recycled bottles.

Brazil's Braskem SA nominated the company's current president overseeing United States and Europe operations Fernando Musa as the new global CEO, replacing Carlos Fadigas, the company announced May 2.

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.

Brazil's state-owned oil company Petrobras SA is expected to announce the beginning of a sale process for its 36.1 percent stake in Braskem SA in the coming days, Brazilian newspaper Folha de S. Paulo reported Wednesday, without citing sources.

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.

French multinational corporation Saint-Gobain SA said Jan. 4 it acquired Brazilian extruded tubing company SG Plásticos as part of a plan to increase its emerging market industrial assets within its high-performance materials unit.