Brazil-based Braskem signs agreement with federal innovation financing agency to develop flexible, rigid PE and PP packaging using nanotechnology

SANTIAGO, Chile , March 11, 2014 () – Brazilian petrochemical company Braskem (NYSE: BAK) has signed an agreement with the federal innovation financing agency Finep to develop advanced plastic packaging using nanotechnology.

Braskem said that it will work on a project to develop plastic resins with high barriers to gases, vapors and chemical solvents. It aims to use these resins in its production of flexible and rigid polyethylene and polypropylene packaging.

Finep will provide 2.97mn reais (US$1.27mn) in subsidies, while Braskem will invest 1.66mn reais.

The project will run until end-2016 at Braskem's technology center in its Triunfo petrochemical complex.

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