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
Group Media desk
Virginia Wieser, Lena Lehner
+43 1 22 400 899 (Vienna, Austria)
media@borealisgroup.com

Latest News

Media Release – 15/02/2024

Borealis and Axpo sign two new long-term wind PPAs

Read more

Media Release – 30/01/2024

Borealis appoints Mirjam Mayer as Vice President Circular Economy Solutions

Read more

Media Release – 11/01/2024

Borealis Among First to Successfully Complete Operation Clean Sweep® Certification

Read more

News – 14/12/2023

Borealis Group's mtm plastics achieves ISCC PLUS certification

Read more

Media Release – 07/12/2023

Craig Arnold appointed Borealis EVP Polyolefins, Circular Economy Solutions and Innovation & Technology as of February 1, 2024

Read more

Media Release – 29/11/2023

Borealis to acquire Integra Plastics AD, an advanced mechanical recycling player based in Bulgaria

Read more

Media Release – 27/11/2023

Borealis extends its collaboration with prominent educational and social institutions in the United Arab Emirates

Read more

News – 14/11/2023

Update on the Kallo case

Read more

Media Release – 02/11/2023

Borealis expands its mechanically recycled plastic compounding capacity with closing the acquisition of Rialti S.p.A.

Read more