DATE : 201-04-17
Videolar Innova, the integrated styrene monomer (SM) and expanded polystyrene (EPS) company controlled by entrepreneur Lirio Parisotto, is ready to invest R$500mil and increase the capacity of its Triunfo (RS) plant. A raw material supply contract (benzene, ethylene) has been signed with Braskem paving the way for a three stage expansion that could involve R$1bil investments to 2018. Over the first stage it is manufacturing EPS under the Newcell brand. The styrene monomer capacity would reach 420,000 m tons per year and start operations by April 2019. SM is key for the range of products in the portfolio of Innova, polystyrene for general uses, high impact PS and expanded polystyrene.
Brazil presently imports half of the EPS demand and Newcell runs 25,000 m tons, eventually 50,000 m tons per year if demand proves strong. In 2016 Innova had a net income of R$2,05bil, from R$2bil in 2015, with Ebitda of R$332,5mil, less 8,7%.
Sales went up 3,6% to 416,300 m tons, with PS accounting for 237,000 m tons. Net profits were R$384,6mil, five times the R$72,4mil figure in 2015.
Source South America Business Information