On June 30, 2023 Borealis announced that it had signed an agreement to acquire Rialti S.p.A., a polypropylene (PP) compounder of recyclates based in the Varese area of Italy, subject to regulatory approvals. Today, the parties announce the successful closing of the transaction. Rialti is one of the European market leaders specialized in production of … Read more
Abu Dhabi National Oil Company (ADNOC) has officially announced its commencement of formal negotiations with OMV AG to explore the possibility of creating a new combined petrochemicals holding entity. The proposed merger aims to integrate their respective existing shareholdings in Borouge plc and Borealis AG. Currently, Borouge is listed on the Abu Dhabi Securities Exchange … Read more
In June 2022, Borealis received a binding offer from AGROFERT, a.s. for the acquisition of its nitrogen business including fertilizer, melamine and technical nitrogen products. On July 5, 2023, the transaction, valuing the business on an enterprise value basis at EUR 810 million, has been completed. AGROFERT is a Czech-based group active in a number … Read more
Borealis, one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and the mechanical recycling of plastics, announces that it has signed an agreement to acquire Rialti S.p.A., an Italian polypropylene compounder, and recycler. Closing of this transaction is subject to customary regulatory approvals. … Read more
Borealis has announced it will not go ahead with plans to sell its nitrogen fertilizer business to Russian-owned, Swiss-based fertilizer producer EuroChem. The deal is among many other European chemicals agreements that have been cancelled due to the Russian invasion of Ukraine. The proposed binding offer of €455 million was unveiled in early February, and … Read more
Borouge, a joint-venture between The Abu Dhabi National Oil Company (ADNOC) and Borealis Group AG (Vienna, Austria), has announced the successful start-up of its new fifth polypropylene unit (PP5) in Ruwais. The new unit will contribute to boosting the UAE’s production of polypropylene to meet the growing global demand for manufactured products in the recyclable … Read more
Chemicals producer Borealis AG delayed the start of a plastics plant in Belgium, its biggest investment in Europe, citing Covid-19. The plant in Kallo in the port of Antwerp will begin production in the third quarter of 2023, the company said in an email. It had previously targeted starting operations by the end of next … Read more
Abu Dhabi National Oil (ADNOC) and Borealis have signed the final investment agreement for their Borouge 4 complex at Ruwais, Abu Dhabi. The deal confirms their intent to spend $6.2 billion on the project, which will consist of a 1.5 million t/y ethane cracker, two PE plants producing 1.4 million t/y and a 100,000 t/y … Read more
BASF said on Thursday that its plans to build a petrochemicals complex in India worth up to $4 billion with partners had been put on hold due to the economic uncertainty caused by the pandemic. As part of four-party Memorandum of Understanding (MoU), signed on October 4, 2019, Abu Dhabi National Oil Company (ADNOC), Adani … Read more
Borealis last week issued a force majeure declaration for its Stenungsund steam cracker in Sweden. A spokesperson from the company said that on 8th of April the company declared force majeure for its cracker operations in Stenungsund due to a “technical incident”. The cracker in Stenungsund can produce 625,000 metric tons of ethylene per annum. … Read more
Austria’s OMV is in talks with Abu Dhabi’s Mubadala Investment Company to acquire a controlling stake worth $4.68 billion in Borealis. The deal— which would increase OMV’s current shareholding in Borealis from 36% to 75%— is said to be potentially record-breaking and would shift OMV’s focus to petrochemicals. “The potential transaction would expand the value … Read more
Borealis announces a net profit of EUR 138 million ($151.8 million) for the fourth quarter of 2019, compared to EUR 94 million ($103.4 million) in the same quarter of 2018. While the 2018 result was impacted by a one-off impairment charge of EUR 92 million ($101.2 million), the result in the fourth quarter of 2019 … Read more
Borealis AG and NOVA Chemicals Corporation announced last Thursday that they have reached an agreement for Borealis to buy NOVA Chemicals’ 50% ownership interest in Novealis Holdings LLC. Formed in 2018, Novealis is the joint venture between affiliates of Borealis and NOVA Chemicals, which subsequently formed a 50/50 joint venture with an affiliate of Total … Read more
Abu Dhabi National Oil Company (ADNOC), Adani Group, BASF SE and Borealis AG have signed a Memorandum of Understanding (MoU) to engage in a joint feasibility study to further evaluate a collaboration for the establishment of a chemical complex in Mundra, Gujarat, India. This is the next step of BASF’s and Adani’s investment plans as … Read more
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announced the start of its new polypropylene (PP) compounding plant in Taylorsville, US. The 50,000 sq. ft. facility, with rail siding in place, adds an initial 30,000 MT of capacity to strengthen Borealis’ and Borouge’s global supply capability for … Read more
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers and the Abu Dhabi National Oil Company (ADNOC) signed a Memorandum of Understanding (MoU) agreement to explore potential growth opportunities within the polyolefin industry in key geographical markets that both parties view as key demand centers in the future. … Read more