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Oil & Gas

Brazil’s Braskem reported net loss of $111 million last quarter

March 22, 2012
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SAO PAOLO, Brazil — Brazilian petrochemical giant Braskem reported a net loss of $111 million in the fourth quarter of 2011, according to

Braskem blamed the loss on uncertainty surrounding the European debt crisis, which affected world economic growth and led to a slowdown in petrochemical demand.

The Sao Paulo-headquartered company is the largest in the Americas and the fifth largest in the world.

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