Products
Downloads
Locations / Sites
Contacts
Download list
Back to News

Borealis completes sale of Norway petrochemical business to Ineos

  • Sale of Borealis' Norwegian polyolefins business and share in Noretyl gas cracker to Ineos completed
  • Increased competitiveness of Borealis' European operations

Borealis, a leading provider of innovative, value creating plastics solutions, has completed the sale of its Norwegian polyolefins business and share of the Noretyl gas cracker to Ineos. Worth EUR 290 million, the deal comprises a 175,000 tonne per year (t/y) polypropylene (PP) unit and a 140,000 t/y low density polyethylene (LDPE) unit, as well as a 50% share of the 557,000 t/y Noretyl gas cracker. The polyolefin units manufacture plastics mainly for the moulding, film and fibre, and extrusion coating industries in Northern Europe.

The sale of these operations is the result of continuing efforts by Borealis to strengthen its European base by ensuring cost competitiveness from feedstock to customers, combined with a focus on providing solutions for the infrastructure, automotive and advanced packaging markets.

"Our European asset development programme is aimed at boosting the overall competitiveness of our operations, and the sale of our business in Norway is integral to this process," comments John Taylor, CEO of Borealis. "It allows us to concentrate on our operations in Austria, Belgium, Finland, Germany and Sweden and develop our growth strategy in Abu Dhabi."

END

Downloads
Borealis completes sale of Norway petrochemical business to Ineos English
Media Contact
Virginia Mesicek
External Communications Manager

Latest News

News – 15/04/2019

Borealis EverMinds™ - establishing circular thinking with value chain partners at the Plastics Recycling Show Europe (PRSE)

Read more

News – 11/04/2019

Value chain partners explore sustainable rigid packaging solutions at Borealis event in Munich

Read more

News – 10/04/2019

Schwarz Retail Group Supports Project STOP in Asia

Read more

Media Release – 23/03/2019

Borealis and ADNOC sign Memorandum of Understanding to explore strategic opportunities in the polyolefin industry

Read more

News – 19/03/2019

Borealis wins the 2019 Foreign Investment of the Year Trophy

Read more

News – 19/03/2019

Best polymer producers for Europe awards

Read more

News – 14/03/2019

Solar energy for Myanmar hospital thanks to Borealis Social Fund and Quentys™

Read more

Media Release – 12/03/2019

Borealis Quentys™ grades provide a boost to solar racing team

Read more

Media Release – 07/03/2019

Borealis awards Engineering Services (EPCM) contract to Maire Tecnimont Group for new world-scale propane dehydrogenation plant in Belgium

Read more