Borealis: Sale of Norway Petrochemical Business Completed
Borealis AG, Vienna, Austria, completes the sale of its Norwegian polyolefins business and share of the Noretyl gas cracker to Ineos Group Limited, Southampton, UK. Worth 290 million EUR, the deal comprises a 175000t/a polypropylene (PP) unit and a 140000t/a low density polyethylene (PE-LD) unit, as well as a 50% share of the 557000t/a Noretyl gas cracker. The polyolefin units manufacture plastics mainly for the moulding, film and fiber, 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.
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