This excerpt taken from the PBR 6-K filed Apr 15, 2009.
Braskem, Petroquisa and Petrobras believe that the consolidation of the petrochemical sector through companies capable of competing in the worldwide market is indispensable for the growth and strengthening of the domestic petrochemical industry.
Triunfo is a second generation petrochemical company that produces thermoplastic resins, located in Pólo Petroquímico de Triunfo, Rio Grande do Sul. The Merger will result in the integration of first and second generation petrochemical companies, thus contributing to the growth and strengthening of the Brazilian petrochemical industry.
The Integration is also part of the strategy of Petrobras System to reorganize and strengthen the Brazilian petrochemical sector. Through this transaction, Petrobras, through its wholly owned subsidiary Petroquisa, concludes the process of restructuring of the Pole of Triunfo, as established in the Investment Agreement signed with Braskem on November 30, 2007. The transaction is in line with what has been determined by the Strategic Plan of Petrobras for the sector.