PHILADELPHIA (March 30, 2012) - Braskem announced today that Fernando Musa has been named CEO of Braskem America. He succeeds Luiz de Mendonça, who led Braskem America and Braskem's International Business Unit until his appointment to the role of CEO of ETH Bioenergia, a member of the Odebrecht Group, the controlling shareholder of Braskem S.A. Musa will be based in Philadelphia, PA. In addition to his position as CEO Braskem America, Musa will oversee Braskem's European operations.
In his most recent role, Musa served as Vice President of Planning, IT and Purchasing for Braskem S.A. In addition, he was responsible for quantiQ, Braskem's distribution business. Previously, he was responsible for the integration of Quattor (a Brazilian chemical and petrochemical company) after its acquisition by Braskem in 2010.
"The decision to have Fernando Musa lead Braskem America reinforces the critical role that our North American operations have in Braskem's growth strategy. Musa brings a wealth of business experience and knowledge to this role. His international experience and exposure to a wide variety of businesses and industries throughout his career will be key to executing Braskem's strategy," said Carlos Fadigas, CEO, Braskem S.A.
A graduate of Instituto Tecnológico de Aeronáutica (ITA) in São José dos Campos, Brazil, with a degree in Mechanical Engineering, Musa also received his MBA from INSEAD in France. Musa worked for 22 years at companies as diverse as Monitor Group as Managing Partner, MGDK as Founding Partner, Editora Abril, McKinsey and Dow Chemical. While with McKinsey, Musa worked in both Mexico and France.
"With the acquisition of Dow's polypropylene business in 2011, Braskem reaffirmed its long term commitment to the American market, attaining the leadership position in the polypropylene market, and strengthening its position as a key player in the international petrochemical sector with its new industrial presence in Europe. Braskem America is well positioned in North America and I look forward to leveraging this leadership role and building strong relations with our clients in order to continue our growth here," Musa said.
Braskem is the Americas' top thermoplastic resins producer. With 35 industrial plants spread across Brazil, United States and Germany, the company produces over 35 billion pounds of thermoplastic resins and other petrochemicals per year. Braskem is the world's leading biopolymers producer with its 440 million pound Green PE plant that produces polyethylene from sugarcane-based ethanol.
Braskem America is the leading producer of polypropylene in the U.S., with five production plants located in Texas, Pennsylvania and West Virginia, and a Technology and Innovation Center in Pittsburgh. Headquartered in Philadelphia, Braskem America is a wholly owned subsidiary of Braskem S.A. For more information about Braskem and its products, visit www.braskem.com.