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Borealis to close HDPE plant in Norway

In a meeting today, the Board of Borealis AS agreed to close the Borealis high density polyethylene (HDPE) plant in Bamble, Norway. The Board recommends that the Supervisory Board of Borealis AS concludes to close the 110,000 tonnes per year plant in 2006.

"Our aim is to now focus on improving the competitiveness of our low density polyethylene (LDPE) and polypropylene (PP) plants in Bamble in synergy with the total operations of hub Scandinavia and on cost competitive feedstock opportunities in the region. This is a further step by Borealis to strengthen its European operations," says Roy Vardheim, General Manager, Borealis Scandinavia.

The closure of the HDPE plant will affect around 100 employees at the location.

END

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Virginia Mesicek
Senior Manager a.i., External Communications

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