Borealis invests €17m in Porvoo polyethylene unit upgrade

16 December 2010 11:00  [Source: ICIS news]

LONDON (ICIS)--Borealis is investing €17m ($22m) to expand capacity by around 6% at one of its polyethylene (PE) units in Porvoo, Finland, the Austria-headquartered plastics producer said on Thursday.

The upgrade, which will include a new ethylene compressor and improved monomer purification, will increase capacity at its PE2 unit to 255,000 tonnes/year from the current 240,000 tonnes/year, the company said.

“Borealis has one of the youngest polyolefin production asset portfolios in Europe,” said CEO Mark Garrett.

“While this gives us a competitive advantage and allows us to develop the most innovative products, we must also continuously invest to be able to provide innovative, value-creating solutions for our customers at all times.”

The PE2 plant is used as a demonstration unit for the firm’s Borstar PE technology and the introduction of new products.

Mechanical completion of the upgrade was expected for the Autumn of 2012, Borealis said.

($1 = €0.76)

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By: Graeme Paterson
+44 20 8652 3214

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