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

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

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.