Borealis acquires GPN SA and majority of Rosier SA
European market supports growth plans
© GPN SA
Borealis, a leading provider in the fields of polyolefins, base chemicals and fertilizers, announced today that it has fully acquired GPN SA from the TOTAL Group.
GPN SA is France’s largest nitrogen fertilizer manufacturer. Borealis is already active in nitrogen fertilizers in Central Europe, as well as in France following its acquisition of PEC-Rhin S.A., today known as Borealis PEC-Rhin SAS, in early 2012.
In joining Borealis, GPN — which is well established in France — will enjoy new growth opportunities. In the production sites (Grandpuits, Grand-Quevilly and Gratecap) and the Paris office GPN France employs around 760 employees, all of which will be transferred to Borealis.
On the same date, Borealis closed an agreement with TOTAL to acquire its majority interest of 56,86% in Rosier SA. Rosier – listed on NYSE Euronext Brussels - is a mineral fertilizer manufacturer with two production facilities (Moustier in Belgium and Sas van Gent in the Netherlands) and markets its products in more than 80 countries worldwide. Rosier generated sales of EUR 278 million in 2012.
“These acquisitions are in line with our strategy to grow our fertilizer business, to keep our number 1 position in Central and Eastern Europe and to become a leading producer in Europe”, says Mark Garrett, Borealis Chief Executive. “We believe that fertilizers in Europe are an economically sustainable and attractive area of activity and we are committed to invest in the assets to ensure reliable production and customer service. We are happy to welcome our new colleagues in France, Belgium and the Netherlands to the Borealis Group and are looking forward to a successful integration.”
Borealis has started the integration of the GPN and Rosier sites and their activities, a process in which safety and business continuity are key. “Borealis has a clear commitment to the fertilizers business in Europe. The GPN and Rosier acquisitions are an important factor in the future of our activities,” explains Markku Korvenranta, Executive Vice President Base Chemicals. “With a focus on safe operations and business continuity, I am convinced we’ll make this a successful journey.”
For further information please contact:
Virginia Mesicek, External Communications Manager
Tel. +43 (0)1 22 400 772 (Vienna, Austria)