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03-27-2007

Borealis: Restructuring Initiatives

Borealis announced that it will reorganise its manufacturing operations in Bamble, Norway, within the framework of lean manufacturing. The aim is to further increase their European asset competitiveness and profitability of the plant.

In addition, Borealis considers phasing out its research and development activities in Norway, and to focus and speed up its innovation capability in Austria, Finland and Sweden, as well as at the planned Borouge innovation center in Abu Dhabi, in the United Arab Emirates. This supports the expansion of Borealis’ business towards the Middle East and Asia.

The company also intends to move its business management currently situated in Mechelen, Belgium, to its head office in Vienna, Austria. The consolidation of management in one location will improve coordination and effective implementation of the company’s strategy.

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