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Braskem S.A. responded to a request for clarification from the Brazilian Securities and Exchange Commission (CVM)…
BAKBraskem SA
Braskem S.A. responded to a request for clarification from the Brazilian Securities and Exchange Commission (CVM) regarding news reports alleging the company knew of soil subsidence risks in Maceió since 1988. The reports cite Federal Police investigations and a Federal Public Prosecutor's Office (MPF) complaint claiming Braskem and its predecessor, Salgema, omitted monitoring data and committed fraud to hide the seriousness of the geological incident until 2018. Braskem asserts that the existence of the inquiry and the MPF complaint have been progressively disclosed in its financial statements and reference forms since May 2024, and therefore did not constitute new material facts. The company operates in the petrochemical industry and produces thermoplastic resins and basic chemicals.