Borealis is a fully integrated petrochemical and polymers company. Its main business includes supplying the plastics manufacturing industry with raw materials such as polyethylene (PE) and polypropylene (PP). It also supplies ethylene, propylene, phenol and aromatics.
Borealis states that its strategy based on “value creation through innovation” matched with its “cutting-edge” Borstar technology. It will keep to its value creation strategy through innovation, providing solutions to its key markets in infrastructure, automotive and advanced packaging across Europe, the Middle East and Asia.
At the same time, the Austrian based company states that it needs to prepare for some challenging market conditions ahead. This means it will need to stay competitive by cutting costs, simplifying its organisation and becoming “more nimble”.
Since June 2005, Borealis is owned by the International Petroleum Investment Company (IPIC) of Abu Dhabi (64%) and by OMV, the Austrian oil and gas group (36%).
Borealis currently has around 5,075 employees and sales of around Euro6bn (2010) with headquarters in Vienna, Austria.
Chairman: Khadem Al Qubaisi
Vice chairman: Gerhard Roiss
Board member: Mohamed Al-Azdi
Board member: David Davies
Board member: Mohamed Al Mehairi
Chairman and chief executive officer: Mark Garrett
Chief financial officer: Daniel Shook
Executive vice president (base chemicals): Markku Korvenranta
Executive vice president (Middle East and Asia): Herbert Willerth
Executive vice president (Polyolefins): Gerd Lobbert
(Updated October 2010)
Tel: +43 122 4000Fax: +43 122 400 333
Borealis is a fully integrated petrochemical company. Since June 2005, Borealis is owned by the International Petroleum Investment Company (IPIC) of Abu Dhabi (64%) and by OMV, the Austrian oil and gas group (36%). Borealis was previously owned by Statoil (50%), OMV (25%), and IPIC (25%). It became operational in March 1994.
More about Borealis Structure
Borealis states that 2010 will be a “tough year” for the company, but its strategic focus on innovation, commercial and operational excellence as well as safety is believed to give it a “competitive advantage” going forward. (Edited from annual report and company website). ICIS also provides you with key financial data listed in table form.
More about Borealis Strategy & Financial Highlights
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