Braskem opens an additional credit line of R$ 1 billion for clients of the plastic, solvent and specialty chains

Braskem will make available to its clients in Brazil a new expansion of credit lines starting in April. For all customers with credit already approved, an additional line of R$ 1 billion at the cost of 100% of CDI can be used to purchase plastic resins (PE, PP, PVC), caustic soda, solvents and specialty chemicals.

“We understand that this is an exceptional moment and not everyone is prepared. This measure is mainly aimed at customers with lower credit capacity. This helps both those who are producing more with plastic products to fight the Covid-19 pandemic and those who are suffering from reduced demand,” explains Edison Terra, vice president of Olefins and Polyolefins South America.

Available for a period of 60 days, each customer can use this credit to buy additional volumes, with greater flexibility in the billing terms of their orders. “Aiming to benefit a larger number of customers, access to this line will be limited to BRL 600 thousand per customer. Besides, Braskem collaborates with other actions to fight the pandemic, along with its clients,” said Isabel Figueiredo, vice-president of Vinylics and Specialties.

Braskem evaluates that this measure is possible due to its discipline in reducing costs and increasing diligence in investments in the period of the petrochemical drop cycle. “We are able to offer this support to our clients without compromising our cash flow, but we would like to invite our suppliers and partners to participate in this effort, which is fundamental for maintaining the industry and jobs,” concludes Pedro Freitas, CFO of Braskem.

Right now, Braskem is supplying hundreds of factories throughout Brazil that produce essential items, such as the packaging that guarantees the safe distribution of both food and hand sanitizer. It also supplies inputs for hospital products such as masks, syringes, serum bags and protective equipment for doctors and nurses, among many other products that are present in everyday life.

Braskem has also adopted strict health protocols so that its members and third parties can maintain production and not interrupt the supply chain for every industry that is essential. “We believe that together we will overcome this difficult moment,” says Edison Terra.