16 Jan 2004
Borealis prepares for new Borstar® polyethylene plant and new products
Today Borealis broke ground for its new 350,000 tonnes per year polyethylene plant at its petrochemical site at Schwechat, Austria. Scheduled to come onstream towards the end of 2005, the new plant, to be built by Tecnimont, will utilise Borealis’ proprietary Borstar technology. It will replace two old LDPE lines and a HDPE line, and will focus on LLDPE.
15 Dec 2003
Borouge developing into world scale petrochemical complex
Borouge, Borealis’ joint venture with ADNOC, is expanding its existing Borstar capacity and studying further expansion to form a world scale petrochemical complex at Ruwais, Abu Dhabi in the UAE. Building on the successful start up and first two years of operation, increasing market demand for enhanced polyolefins and more feedstock becoming available, the next steps are underway to expand the Borouge petrochemical complex.
27 Nov 2003
Borealis signs EUR 700 million revolving credit facility
Borealis yesterday signed an agreement with 22 international banks for a EUR 700 million revolving credit facility. The financing is for general corporate purposes, including the refinancing of an existing credit facility. The EUR 700 million credit facility has a maturity of five years and carries an initial margin of 80 bp above Euribor.
6 Nov 2003
Borealis reports third quarter profit
In the context of strong polyolefin market demand, lower polyolefin prices and higher feedstock costs Borealis achieved an operating profit of EUR 7 million and a net profit of EUR 3 million in the third quarter. Borealis’ volumes were up 12% from the second quarter and increased 19% compared to the third quarter of 2002. Due to the squeezed industry margins the results were well below the EUR 54 million operating profit and EUR 25 million net profit for third quarter last year.
17 Sept 2003
First polypropylene product made from natural gas
As a result of co-operation between Lurgi, Statoil and Borealis, the world’s first Borstar® polypropylene cups have been created using propylene from Lurgi’s new MTP® (Methanol-to-Propylene) process.
21 Aug 2003
Borealis increases European polyolefins prices by EUR 150 per tonne
Borealis announced today that it will increase the price of its polyethylene and polypropylene plastics in Europe by EUR 150 per tonne as of September 1, 2003.
20 Aug 2003
Borclear™ RB707CF – a new dimension in clarity for conventional blown film with air cooling
Unveiled in co-operation with Kiefel Extrusion GmbH at June's prestigious NPE show in Chicago, Borealis' new Borclear polypropylene grade overcomes conventional PP limitations in blown film. Borclear RB707CF delivers superior optical properties in combination with good processability and excellent stiffness/tenacity balance, and is intended for co-extrusion as sealing layer.
5 Aug 2003
Borealis reports second quarter profit in weak market
Borealis today announced its second quarter result, showing an operating profit before restructuring charges of EUR 21 million and a net profit of EUR 4 million after tax.
1 Jul 2003
Borealis invests EUR 200 million in new Borstar® polyolefin capacity
Borealis today announced an EUR 200 million investment in the construction of a new 350,000 tonnes per year polyethylene plant, based on its proprietary Borstar technology, and a 90,000 tonnes per year expansion of the existing Borstar polypropylene plant at its petrochemical site at Schwechat, Austria. The new capacity will come onstream in 2005.
23 May 2003
Streamlined technology organisation goes live at Borealis
Borealis today announced that its redesigned and market aligned technology organisation, consolidated around four Innovation Centres, will be effective June 1, 2003. The main objective of the reorganisation is to accelerate the pace of innovation.
15 May 2003
Borealis announces first quarter operating profit
Borealis today announced its first quarter results, which show an operating profit of EUR 5 million before restructuring charge compared to an operating loss of EUR 13 million in the first quarter of 2002. The restructuring charge of EUR 17 million relates to the continued implementation of Borealis’ transformation programme.
19 Mar 2003
Borealis introduces Xmod™ high performance short glass fibre reinforced PP to aid automotive component productivity
Borealis, a leading supplier of polyolefins, has developed a high performance short glass fibre reinforced (HPGF) polypropylene compound family that has the technological and economical potential to replace long glass fibre (LGF) grades in highly stressed parts for technical automotive applications. Borealis has commercialised this new product group under the Xmod™ brand.
