10 Mar 2006
Borealis increases price of polypropylene for European automotive and appliances businesses
Borealis announced today that it will increase the price of its polypropylene (PP) used in automotive and appliances applications in Europe by EUR 150 per tonne as of April 1, 2006.
“Over the last two years, we have experienced a structural shift in the cost from oil-based feedstock which has only been partly passed through the value chain. The announced price increase is necessary to keep Borealis’ automotive and appliances businesses profitable and to ensure future investment in innovation to create value-added solutions for our customers and original equipment manufacturers,” according to Paul Turner, Vice President Business Unit Engineering Applications, Borealis.
With an in depth understanding of the value chain and a focus on customer needs, Borealis provides innovative, value creating PP solutions with optimum performance for appliances and interior, exterior and under the bonnet automotive applications.
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Borealis and Borouge
Borealis and Borouge are leading providers of innovative, value creating plastics solutions. With more than 40 years of experience in polyolefins and using our unique Borstar® technology, we focus on the infrastructure, automotive and advanced packaging markets across Europe, the Middle East and Asia. Our production facilities, innovation centres and service centres work with customers in more than 170 countries to provide the materials that make an essential contribution to society and sustainable development. We are committed to the principles of Responsible Care® and to leading the way in 'Shaping the Future with Plastics'™.
For more information on Borealis and Borouge, a joint venture between Borealis and the Abu Dhabi National Oil Company, visit www.borealisgroup.com and www.borouge.com.