COPENECompanhia Petroquímica do Nordeste SA (Portugese: Chemical Company Northeast)
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Following is a breakdown of the Cost of Products Sold by COPENE for the fourth quarter and FY 2001 (in percentage terms):
The decline in the price of oil in the international market and, consequently, of naphtha, together with the strengthening of the Real at the end of 2001, resulted in an 18 percent drop in the price of naphtha paid by COPENE during December.
Consequently, COPENE terminated contracts for the import of naphtha and foresees that it will directly import approximately 30 percent of its needs.
incorporated into COPENE in September 2001, along with the assets of Economico Empreendimentos.
6 billion made by COPENE for the acquisition by Nova Camacari of the Economico S/A Empreendimentos (ESAE) assets at the July 25, 2001, auction held by the Central Bank of Brazil, nor the incorporation of Proppet and Intercapital.
With prior authorization of the Board of Administration, after the 3rd Auction, COPENE acquired Nova Camacari, assuming assets acquired in the context of the Auction - ESAE, Intercapital, direct participation of BNDESPAR in Conepar and Proppet - as well as respective loans, for the amount of R$1,417.
The immediate resumption of the modernization and growth of the Northeastern Center; - The reduction of its operational and fiscal costs, with the elimination of one link in the productive chain through integration of an important segment of the second generation companies of the Northeastern Center into COPENE; - Open the way for new investments, such as the expansion of the installed capacity in the production of Polyethylenes, Polypropylene, Styrene, PVC, and PET; - As a result of gains in scale, accelerate investments in technology to assure full dominion of, and capacity to develop the technologies used; - Align the interests of all COPENE shareholders and of the second generation companies related to it, under a single results center.
Adding value to COPENE by the synergistic benefits and good corporative management practices that they impart, Petrobras Quimica S.
Consequently, COPENE will be a company of a scale that will guarantee its competitiveness and vocation of a truly open capital company, that will permit access to capital markets to finance its growth.
opportunely integrated into COPENE, and the operations for such
These facts form part of the integration process between COPENE - PETROQUIMICA DO NORDESTE and other petrochemical assets, aimed at the gain of scale, operational and marketing synergies, and fiscal efficiency.
COPENE produces and sells basic petrochemicals and utilities.