Issue nº 140
Editorial
Dear reader,
The year 2008 began in an atmosphere of uncertainty, with signs of trouble ahead. And it came, resulting in a global economic meltdown in the second half of the year. But there was good news as well. Braving that climate of fear and uncertainty, Braskem successfully concluded two deals to extend the USD 1.2-billion loan obtained the previous year to acquire the Ipiranga Group’s petrochemicals assets. The company achieved this feat because it had won the trust of Brazilian and international investors and major banks that were familiar with Braskem’s track record. Both operations have received a major accolade – Latin Finance magazine’s Deal of the Year award.
The Braskem financial team’s efforts were rewarded and recognized because, from the very start, they were confident that difficult times could be overcome with audacity, competence and credibility. This mindset is not only prevalent at Braskem but throughout the Odebrecht Group. And this is how the organization will continue growing in the situations that are currently arising in several different countries and impacting the entire world in increasingly unpredictable ways.
The Group’s overarching aim remains the same: providing more and better service to its clients, wherever they may be, and whatever they may require. Clients like Petrobras, which is carrying out an extensive project to retrofit and expand the production capacity of its Presidente Getúlio Vargas Refinery in the state of Paraná, building eight new industrial units at once. Petrobras is doing what needs to be done for Brazil, and Odebrecht takes great pride in being part of that effort.
When placing their expertise, experience and spirit of service at their clients’ disposal, engineering and construction contractors also have the crucial mission of collaborating with national development initiatives. In Venezuela, Odebrecht’s teams are doing just that by participating in the construction of the Los Teques Metro system in the populous Altos Mirandinos area. Line 1 officially opened in November, symbolizing the Venezuelan people’s determination to improve their mass transit infrastructure. Line 2 is currently under construction, reaffirming that resolve.
As 2009 begins, the global economy is still going through a period of uncertainty and doubt. But nations must keep growing, because the people who live in and build those countries have dreams to fulfill and lives to live. As long as there are people who are dedicated to making those dreams come true, life on this planet will continue to prevail, with all its power and fascination. Odebrecht Informa wishes all its readers a happy 2009.