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Braskem to be delisted from New York Stock Exchange

  5/16/2019 - New York, NY - The New York Stock Exchange has suspended trading of Braskem's American depository shares and will initiate delisting procedures because the Brazilian petrochemical producer will not be able to file its 2017 annual report with the U.S. Securities and Exchange Commission by an extended deadline this week, Braskem said. "The board of directors and senior management will continue to dedicate significant efforts and resources and are working towards filing the 2017 20-F and our annual report on Form 20-F for the year ended December 31, 2018, as expeditiously as possible, in order to resume trading of the company's ADS on the NYSE," Braskem said in a statement. Braskem's shares will be available to trade over the counter "as soon as possible." A 20-F is an annual report that must be filed by all foreign private issuers with shares traded on U.S. exchanges by certain deadlines. Braskem missed a March deadline and the New York Stock Exchange extended it to May 16. Last week, Pedro Teixeira Carvalho, Braskem's investor relations officer, said during the company's quarterly earnings call that the company was working hard to file the report on time, but could not be sure of meeting the deadline. He said Braskem needed to assess "consistency of the control environment," and a 20-F has an internal controls component that needs review "to make sure that we are reporting directly to the market." The company's 20-F for 2018 meets the requirements, but the 2017 report does not, and it must be filed before Braskem can file the 2018 report. "We'll still be trading on the OTC market, but the process is suspended until the appeal is evaluated and analyzed and decided by the NYSE, which I mean could take some time," Carvalho said. "We have seen a precedent where it took roughly six months for that to happen but as far as I know, there is no established time period for that to happen." If the company files the 20-F while the appeal is under way, Braskem's ADRs would be relisted on the NYSE, he added.

Thursday, July 18, 2019

Tire Industry Association appoints David Zielasko as vice president of marketing and communications - click to expand

Specialty tapes market forecast to reach $59.3 billion by 2024 - click to expand

Continental begins construction of motorcycle tire factory in Thailand - click to expand

Maxxis to open distribution facility near Indianapolis, Indiana - click to expand

Lubrizol Corporation announces acquisition of Bavaria Medizin Technologie GmbH - click to expand

Wednesday, July 17, 2019

Wacker to showcase novel silicone laminate with electroactive properties at K2019 - click to expand

German RepRap launches 3D printing platform that can print liquid silicone rubber - click to expand

NBR latex market size is forecast to exceed $2.4 billion by 2025 - click to expand

Career fair to be held during the Rubber Division's International Elastomer Conference - click to expand

Rep International names Jim Wirtz president - click to expand

Goodyear to invest $180 million in North Carolina tire plant - click to expand

Tuesday, July 16, 2019

Goodyear declares quarterly dividend - click to expand

The International Rubber Study Group (IRSG) announces a call for rubber-related economic research papers - click to expand

Hillenbrand to acquire Milacron in cash-and-stock trade valued at $2 billion - click to expand

Toyo Tire to increase capacity at U.S. tire production facility in Bartow County, Georgia - click to expand

Global green tire market forecast with a 20.63 percent CAGR through 2023 - click to expand

Nitrile butadiene rubber production in North America anticipated to reach 50,000 tons in 2023 - click to expand

Monday, July 15, 2019

Wacker sets benchmarks in multimaterial printing and precision with ACEO technology - click to expand

GRI hires senior industry executive as head of global sales - click to expand

Tokai Carbon CB to increase prices in North America - click to expand

Bridgestone to launch new Blizzak studless winter tire - click to expand

Goodyear sends silica science package to the International Space Station - click to expand

Friday, July 12, 2019

Nokian Tyres produces first test tire at its factory in Dayton, TN - click to expand

Global silicone solutions for leather and textiles market to expand to $760 million by 2025 - click to expand

ZC Rubber America hires Chan Phothisane as OTR national sales director - click to expand

Arlanxeo announces strategic collaboration with Dhahran Techno Valley - click to expand

Book of the Day - Rubber Extrusion Technology Short Course Notes - click to expand

Thursday, July 11, 2019

R.E. Carroll Inc. launches brand promise to the rubber industry - click to expand

HAGL Agrico set to sell rubber firm to Thadi - click to expand

Global aircraft pressure-sensitive tape market forecast at $354 million by 2024 - click to expand

Vystar contracts rubber expert Ranjit Matthan for deproteinized dry rubber and latex research and development - click to expand

Ashland amends agreement with Ineos for its composites business and butanediol facility in Marl, Germany - click to expand

Market Reports

Global farm tire market size is expected to reach $7.01 billion by 2025 - click to expand

Global silicone gel industry forecast at $2 billion by 2025 - click to expand

Asian and Pacific nitrile butadiene rubber market forecast at 820 thousand tons By 2023 - click to expand

Global liquid silicone rubber market is forecast to reach $3.83 Billion by 2026 - click to expand

Specialty tapes market forecast to reach $59.3 billion by 2024 - click to expand

NBR Latex Market size is forecast to exceed $2.4 billion by 2025 - click to expand

Global green tire market forecast with a 20.63% CAGR through 2023 - click to expand

Nitrile Butadiene Rubber production in North America anticipated to teach 50 thousand tons in 2023 - click to expand

Global silicone solutions for leather & textiles market to expand to $760 million by 2025 - click to expand

Global isoprene market is expected to reach $3.97 billion by 2025 - click to expand

Global aircraft pressure-sensitive tape market forecast at $354 million by 2024 - click to expand

Shape memory polymer market forecast with at a CAGR of more than 25% through 2025. - click to expand

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