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Who We Are Today and Where We Came From

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We are a Brazilian petrochemical company and manufacturer of transformed plastics. In the petrochemical area, we operate in the styrenic products segment, manufacturing ethylbenzene (EB), styrene monomer (SM), toluene and polystyrenes: general use (GPPS), high impact (HIPS), expandable (EPS), ECO-PS® and PS-3D.

In the plastics processing segment, we manufacture bioriented polypropylene (BOPP) films, polystyrene (PS) and polypropylene (PP) reels, as well as plastic caps for mineral water, juices and soft drinks. Our products are at the heart of the economy and the production chain.

Our factories are strategically located: two in Manaus (Amazonas) and one in Triunfo (Rio Grande do Sul). Always close to our customers, industries from the north to the south of the country, and out to the world. The sales and administrative areas are located at the Head Office in Alphaville, Barueri (São Paulo)..

Innova's DNA brings the history of its native company, Videolar, a manufacturer of blank and pre-recorded physical media carriers: VHS video tapes, audio cassettes, floppy disks, pen drives, CDs, DVDs and Blu-ray.

At the end of the 1990s, Videolar saw the chance to bring the company from its condition of the country's largest consumer of polystyrene to the new position of resin manufacturer. Polystyrene was the raw material for VHS tape cartridges and CD cases.

In 2002, the company built the first petrochemical plant in the North of Brazil, supplying its own demand and that of industries such as the electronics and household appliances industries, as well as office and school supplies, all located in the Manaus Industrial Pole. Thus, the media industry reinvented itself as a petrochemical industry.

Later, the Company ventured into plastic processing: in 2011, a factory producing plastic caps for mineral water, juice, and soft drink bottles was set up in Manaus.

The following year, also in Manaus, a new state-of-the-art industrial plant was built to manufacture bioriented polypropylene (BOPP) films and laminates in polystyrene (PS) and polypropylene (PP) reels, essential items for the food packaging industries.

In 2014, Videolar purchased the petrochemical company Innova from Petrobras, located in the Triunfo Petrochemical Pole (Rio Grande do Sul), an integrated manufacturer of ethylbenzene (EB), styrene monomer (SM), general purpose (GPPS), and high impact (HIPS) polystyrenes. Under Videolar's management, the production of expandable polystyrene (EPS) was also implemented there.

This move consolidated the Company's current mode of operation and its strategic positioning: north and south, with petrochemical plants always close to customers.

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Innova: Products and Presence in Society

Innova: Products and Presence in Society

A Story of Reinventions

A Story of Reinventions

Message from the Leadership

Imagem de Lírio A. Parisotto
Photo: Lirio A. Parisotto by Liz Vanin Parisotto De Gregori.

Lightning Strikes in the Same Place

Gone are the days when an investment should only be designed to survive the severity of the four mathematical operations. Now we must overcome the fury of the weather, an imponderable each day more predictable.

The year 2024 saw devastating rains in Rio Grande do Sul and drought in the Amazon River basin, exactly where our factories are located.

It was also a continuation of the global petrochemical downturn, aggravated by the global flood of Asian resins, favored by Russian natural gas as a cheaper input compared to our source.

In last year's message for this report, I argued that the Company's most precious product is reliability: once again, we have been put to the test.

The flood blocked the area around our petrochemical plant in Triunfo (RS) and stopped production, but our polystyrene (PS) customers continued to be supplied by the petrochemical plant in Manaus (AM).

In the same way, the Amazon drought and its impact on river transport from Manaus did not prevent us from serving our plastics and resins customers through an expensive and complex naval mobilization. Everything we learned during the previous year's drought was put into practice and improved in order to handle both the inflow of raw materials and the outflow of our finished products, bioriented polypropylene (BOPP) films, polystyrene (PS) and polypropylene (PP) reels, as well as plastic beverage caps.

In the petrochemical area, we have mirrored industrial operations: North and South. In the processed plastics segment, according to the decision of the Administrative Council for Economic Defense (CADE), we may have the same strategy for BOPP films soon, with the acquisition of Polo Films industry.

Despite the climate and even because of its effects, the pages of this 2024 Sustainability Report will show industrial capacity expansions at all our plants: Innova was the first company in Brazil to submit projects to the Extended Special Regime for the Chemical Industry (REIQ), which stimulates investments.

This company's mantra is to always make available the best product, under any condition: that's how it's always been. We invest under the laws of the four mathematical operations and in the knowledge that, yes, we need to be prepared: lightning strikes in the same place.

Enjoy your reading!

Lirio A. Parisotto

Our Operations

Styrenics

Polystyrene developed for filaments used in three-dimensional printers: 100% Brazilian resin, with competitive and logistical advantages.

Aplicação 1

A 100% recyclable product, it is a transparent, rigid, and non-toxic resin. Developed in grades that meet the specific needs of various market segments.

Aplicação 2

High purity aromatic solvent. It is added to fuels as an anti-knock agent and used as a diluent for paints, coatings, rubbers, and resins. One of the main characteristics of this product is its rapid evaporation, combined with high solvency power.

Aplicação 3

Product used in chemical reactions to obtain resins. It is an essential raw material for our petrochemical resins.

Aplicação 4

100% recyclable polystyrene, produced with up to 30% post-consumer (recycled) material in its composition and with mechanical properties similar to those of the product manufactured with 100% virgin resin.

Aplicação 5

Developed in grades that meet the specific needs of various market segments.

Aplicação 6

100% recyclable product, rigid cellular plastic with thermal and acoustic insulation properties. Innova's technology allows the production of expandable polystyrene beads that expand up to 50 times their size, a more sustainable alternative to the traditional process as it uses less water during manufacture.

Aplicação 7

Processed Plastics

100% recyclable plastic reels from polystyrene (PS) resin.

Aplicação 1

100% recyclable products, plastic caps are compression molded and their sealing technology ensures high efficiency in carbon dioxide (CO2) retention. They are FSSC 22000 (Food Safety System Certification) certified, a risk management standard focused on food and beverage safety.

Aplicação 2

Films oriented in both directions, lengthwise and widthwise, which gives them high strength and flexibility. BOPP provides an effective barrier to prevent food from coming into contact with oxygen and moisture.

Aplicação 3

100% recyclable plastic reels from polypropylene (PP) resin.

Aplicação 4

Highlights 2024

Huge Challenges, from the Climate to International Prices

The year 2024 saw a worsening of the global petrochemical industry's downturn while the company had its margins and profitability squeezed, even though sales volumes increased by 4%, gross sales by 15% and market share was preserved, in an unprecedented challenge:

May: rains in Rio Grande do Sul

Rains
BR 386, Tabaí-Canoas 20ighway, Polo Petroquímico do Sul (RS)

The rains that hit the state of Rio Grande do Sul in May left the Triunfo (RS) petrochemical plant isolated. Even so, we ensured uninterrupted customer service from the petrochemical plant in Manaus (AM), while the mobilization in the south focused on helping employees affected by the weather catastrophe.

October: droughts in Amazonas

drought
Banks of the Rio Negro (AM)

n October, the drought in the Amazon Basin affected the riverbeds and sharply increased logistics with a complex system of ferries and naval pilotage.

Innova has responded quickly to new environmental imperatives thanks to previous investments in production and storage capacity, as well as its strategical positioning in the north and south of the country, offering agile and regionalized service.

International Prices in Free Fall

Gráfico de Vendas

From October onwards, the free fall in international prices for our main products had its impact on the Company's prices.

On the international scene, the war between Russia and Ukraine and, as a consequence, the displacement of Russian natural gas to Asian countries, with their previously expanded industrial capacities, has caused a global oversupply of cheaper resins, undermining our competitiveness.

Still looking at the global scenario, there was a slowdown in consumption due to the general rise in interest rates: in the US, to unprecedented levels. In Japan and Europe, respectively, from zero and negative to positive.

Supply and demand were deeply affected, resulting in lower margins.

From October onwards, the free fall in international prices for our main products had its impact on the Company's prices.

On the international scene, the war between Russia and Ukraine and, as a consequence, the displacement of Russian natural gas to Asian countries, with their previously expanded industrial capacities, has caused a global oversupply of cheaper resins, undermining our competitiveness.

Still looking at the global scenario, there was a slowdown in consumption due to the general rise in interest rates: in the US, to unprecedented levels. In Japan and Europe, respectively, from zero and negative to positive.

Supply and demand were deeply affected, resulting in lower margins.

Gráfico de Vendas

New Cycle of Productive Capacities Expansions

Imagem de Campo de Obras

The Company was a pioneer in submitting projects to the so-called Expanded REIQ, a version of the re-established Special Regime for the Chemical Industry (REIQ), suspended since 2022, which promotes investments in production capacity expansions.

On 04/03/2024, the first Term of Commitment was signed with the Ministry of Development, Industry, Commerce and Services (MDIC), with investments of around R$49 million. Over the course of 2024, another four Terms of Commitment were signed, amounting to approximately R$24 million, making a total of more than R$73 million.

The investments, mobilized in the short term at our industrial plants in Triunfo (RS) and Manaus (AM), will be implemented between March 2024 and August 2025, with 42% earmarked for civil works and construction, 56% for machinery and equipment and 2% for other expenses.

Imagem de Gráfico de Investimentos

ECO-PS® Expansion

Embalagem ECO-PS

Innova's investments follow an agenda of insertion into the circular economy, as is the case with ECO-PS®, the first Brazilian polystyrene with up to 30% post-consumer (recycled) material in its composition, preserving the mechanical properties of virgin resin.

In addition to promoting the rational use of natural resources, the ECO-PS® project also moves the selective collection production chain, as is already happening in the city of Manaus, in a joint project between Innova, the Amazonas Association of Recyclable Materials Collectors (ASCARMAN) and the Sustainable Amazon Foundation (FAS).

+15,200 

TONS/YEAR OF PRODUCTION CAPACITY

R$ 5.8 MI

INVESTMENTS

Aplicações do ECO-PS

Styrene Monomer (SM) Capacity Expansion

Embalagem ECO-PS Plant II, Triunfo (RS), petrochemical: implementation of biomass yard coverage.

The new Rice Husk Storage and Dosing System as well as the Biomass Storage Yard Cover optimize the renewable fuel mix at the Steam and Power Generation Plant, increasing the effective capacity of the styrene monomer (SM) plant.

  • Rice Husk Storage and Dosing System: the two new elevated silos for the specific storage of rice husks, with a (storage capacity of 1300 m³/silo) and elevators with capacity of 15.8 t/h to the transition silo of the boilers grant the correct dosage of of chip and rice husk biomass.
  • Covering the Biomass Storage Yard: the biomass yard coverage keeps it protected from bad weather, such as rain, and preserves its calorific value, preventing high humidity fuel to be fed into the boiler.

+8,000

TONS/YEAR OF PRODUCTION CAPACITY

R$ 18 MI

INVESTMENTS

Aplicações do ECO-PS
Aplicações do ECO-PS

Polystyrene (PS) Capacity Expansion

Embalagem ECO-PS

The project increases the production capacity of general purpose polystyrene (GPPS) at Plants II and IV, the petrochemical plants in Triunfo (RS) and Manaus (AM) respectively, boosting agile and regionalized service to customers from the north to the south of the country.

It consists of the implementation of a new system for reprocessing polystyrene (PS) mills at Plant II in Triunfo (RS) and the installation of a Centrifugal Cooling Unit capable of removing volatiles from polystyrene (PS) at Plant IV in Manaus (AM).

+14,000

TONS/YEAR OF PRODUCTION CAPACITY

R$ 6.4 MI

INVESTMENTS

Aplicações do ECO-PS
Aplicações do ECO-PS

Plastic Caps Production Expansion

Embalagem ECO-PS Plant I, Manaus (AM): manufacturing of closure caps for mineral water, juices and soft drinks.

The project increases the production capacity and efficiency of plastic caps, with lighter and more sustainable items by replacing the weight from 2.50 grams to 2.10 grams per cap: rational use of resources and choice of monomaterial product, avoiding the mixing of resins and making it easier to recycle.

The plastic caps manufactured by Innova, 100% recyclable, are compression molded and their sealing technology guarantees high efficiency in retaining carbon dioxide (CO2), even in adverse conditions of temperature variation.

Innova's plastic caps manufacturing is FSSC 22000 certified (Food Safety System Certification), a globally recognized standard in risk management for food and beverage safety.

+ 1,2 BI/YEAR

PRODUCTION CAPACITY

R$ 41.4 MI

INVESTMENTS

Polystyrene (PS) and Polypropylene (PP) Reels Capacity Expansion

Embalagem ECO-PS Plant I, Manaus (AM): manufacture of polystyrene (PS) and polypropylene (PP) reels.

The project promotes an increase in production capacity and an improvement in the final quality of polystyrene (PS) and polypropylene (PP) reels, reducing machine adjustment time when changing coils, increasing reliability in the substrate thickness measurement process and reducing the reject rate and losses due to reprocessing.

The estimated capacity gain equals to 1,728 tons per year, an increase of approximately 10% in production capacity.

+1,700

TONS/YEAR OF PRODUCTION CAPACITY

R$ 1,6 MI

INVESTMENTS

Aplicações do ECO-PS

Acquisition of Polo Films

Imagem de Campo de Obras

In October 2024, the company signed an agreement to acquire Polo Films, a manufacturer of bioriented polypropylene films (BOPP) in Montenegro (RS). The operation aims to expand its presence in the BOPP segment, which the company has been producing since 2012 in Manaus (AM).

The investment follows a strategy previously adopted in the petrochemical business, with industrial plants located in Manaus (AM) and Triunfo (RS), in the north and south of the country: the model will allow greater flexibility in serving domestic and international BOPP customers, who will have production plants at their disposal at both ends of the country.

The aim is to increase the level of service in production and delivery to customers, guaranteeing greater product availability, even in the face of climatic difficulties experienced in 2023 and 2024. The transaction is subject to approval by the Administrative Council for Economic Defense (CADE).

Innovamos: Continuous Improvement Program

Gráfico de Vendas
The Company has strengthened and expanded the program which seeks solutions and ways forward for operations based on the ideas of its own employees. In 2024, twenty-one new ideas were implemented, highlighting projects to increase production capacity, simplify processes and optimize resources, with an estimated financial benefit of R$8 million/year.

Environmental Performance

Innova's has a successful sustainability strategy in the use of renewable energy sources and by 2024 it achieved an 83% reduction in greenhouse gas emissions.

The Steam and Electricity Generation Plant runs the petrochemical plant at Triunfo (RS) with a 100% renewable source: biomass made from plant waste (chips, rice husks and sawmill leftovers) to replace fossil fuels (coal and fuel oil).

The Steam and Electricity Generation Plant has an installed capacity of 30,000 kW, which is equivalent to the consumption of a city with 450,000 inhabitants. It creates a virtuous socio-economic impact, generating opportunities for forestry producers in the forestry chain within a radius of 380 km.

At the same time, the company is investing in improvements such as the reuse of internal streams, which reduces the generation of effluents and water consumption.

Imagem de Campo de Obras

Greenhouse Gases (GEE) Emissions

The results for 2024 are presented considering greenhouse gas (GHG) emission rates expressed in tCO2e per ton of product (tCO2e/t prod.):

Imagem de Campo de Obras
Capa do Relatório de Sustentabilidade 2024

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