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Borealis | Strategy and Financial Highlights Information from ICIS

 

Borealis states states that it is ‘well prepared’ for an industry upswing, which it expects to start in 2011 and beyond.

  

The company will continue to maintain its investments in long-term growth drivers such as the new low density polyethylene (LDPE) plant in Stenungsund, Sweden, which is expected to be inaugurated in June 2010; the expanded headquarters in Linz, Austria; Borouge 2, which is expected to triple the polyolefins capacity at its Abu Dhabi joint venture to 2m tonnes/year; and Borouge 3, which will add an additional 2.5m tonnes/year of polyolefins capacity in the Middle East.

 

Please also see the ICIS plants and projects database .

 

In addition, the company will continue to focus on cost competitiveness and cash generation.

 

Borealis’s key strategy includes:

 

(1)   Growing its business in infrastructure, automotive and advanced packaging;

(2)   Expanding the Abu Dhabi complex to supply growth in the Middle East and Asia;

(3)   Strengthen its European base, ensuring cost competitiveness from feedstocks to customers;

(4)   Develop its base chemicals business;

(5)   Pursue operational excellence, considering safety at all times;

(6)   Achieve a step change in innovation;

(7)   Exceed in serving its customers with a focus on quality and reliable execution; and

(8)   Build a cross-cultural organisational capability.

 

Its financial strategy includes:

 

(1)   Outperform financially;

(2)   11% + average return on capital employed (ROCE) after tax; and

(3)   40%-60% debt to equity ratio. 

 

“We will continue to do what we are good at: providing the innovative solutions our customers expect. What makes me confident about our success is that IPIC and OMV, as our shareholders, are standing behind our long term strategy,” concludes Garrett.

 

Please see Interview: Borealis poised for chem industry upswing – CEO on ICIS news

 

Download the The ICIS Top 100 Chemical Companies listing here

 

Financial highlights: Borealis, year ended 31 December

 

2010

 2009

 2008

 2007

 2006

Sales (€ m)

6,269

4,714

6,697

6,350

5,742

Operating Profit (€ m)

349

24

163

451

353

Net Profit (€ m)

333

38

239

533

327

Total Assets (€ m)

5,630

4,816

4,828

 4,631

3,671

Number of Employees

5,075

5,215

5,395

5,060

4,639

 

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Borealis Company Structure

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

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