03 June 2013 13:57 [Source: ICIS news]
LINZ, Austria (ICIS)--Austria-headquartered plastics, chemicals and fertilizer producer Borealis on Monday inaugurated a new €100m ($130m) catalyst plant at its site in Linz.
The company said the opening of the new catalyst plant is "a central pillar of the growth strategy within its polyolefins business segment".
The plant, which will create 35 new jobs at Linz, will use proprietary Borealis Sirius catalyst technology.
Catalysts are substances required in small quantities for the production of plastics. They help determine the final properties of a product, eg hardness, plasticity and/or elasticity.
Borealis CEO Mark Garrett said: "With today's inauguration of the new plant, we are not only strengthening our research expertise, but also our overall leadership role in the area of catalysts. We are positioning ourselves as a powerful partner in innovation in the development of high-quality product solutions.
"This investment is yet another building block in our global growth strategy and will consolidate our position in Europe."
"Catalysts make it possible to form plastics more precisely. This, of course, means we can accommodate our customers' demands and requirements more precisely as well, which is why catalysts play a vital role in the development of innovative plastics solutions," said Alfred Stern, Borealis executive vice president of Polyolefins.
"The new facility in Linz will make it possible for us to build on the basic research carried out at our Innovation Centre in Porvoo, Finland, by further refining catalysts developed there until they are market-ready. This is an essential step in the development of catalysts and determines the quality and versatility of the final product," he added.
"With this new facility and investment, Borealis is definitively establishing Linz as a research centre for plastics in Europe," said Gerhard Roiss, CEO of energy company OMV, which owns 36% of Borealis. The remaining 64% is owned by International Petroleum Investment Company (IPIC) of Abu Dhabi.
($1 = €0.77)
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