Sao Paulo, Brazil, 23 April – Chinese state company ChemChina, which acquired the silicon interest of France’s Rhodia in 2006 to create BlueStar Silicones, is seeking to boost revenues from its Brazilian plant at Santo Andre in the state of Sao Paulo to US$ 200 million per year, according to a media report.
ChemChina has announced an investment of US$ 450 million to double its production of silicon worldwide to 200,000 tons annually, business daily Gazeta Mercantil reported, and this expansion will center on Asia and Latin America, including Brazil.
“We will be among the top three producers by 2010. With the new plant in China we will have sufficient raw materials to use in Brazil to support this growth,” said José Lucas Freire, chairman of BlueStar Silicones Brasil.
The Chinese firm’s expansion in Latin America is mainly focused on Brazil, which, at 6 percent, has the world’s second highest growth in silicon production.
BlueStar in Brazil aims to boost its current yearly income of US$ 200 million to something approaching the US$ 2.5 million earned in the United States. The firm hopes to increase its annual sales to US$ 1.3 billion when a new plant begins production in 2009.
“In Brazil, BlueStar is gearing its sales to the textile, auto and construction sectors and will launch a modified silicon in the second half of the year that could be wash-resistant or make fabrics softer, the company’s chairman added. (macauhub)