NewswireToday - /newswire/ -
Vienna, Austria, 2012/12/21 - Borealis announces that it will increase all polyolefin prices for January, 2013. Polyethylene prices will increase by EUR 100/tonne, while prices for polypropylene will increase by EUR 75/tonne - BorealisGroup.com. Borealis
Borealis, a leading provider of chemical and innovative plastics solutions, announces that it will increase all polyolefin prices for January, 2013. Polyethylene prices will increase by EUR 100/tonne, while prices for polypropylene will increase by EUR 75/tonne.
“The decision to increase prices is based on the development in the market over the last couple of months that requires us to react,” comments Alfred Stern, Borealis Executive Vice President Polyolefins.
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. Borealis is headquartered in Vienna, Austria, and operates in over 120 countries with around 5,300 employees worldwide, generating EUR 7.1 billion in sales revenue in 2011. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, the remaining 36% is owned by OMV, the leading energy group in the European growth belt. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
Building on the unique Borstar® and BorlinkTM technologies and 50 years of experience in polyolefins, Borealis and Borouge support key industries including infrastructure, automotive and advanced packaging. The Borouge plant expansion in Abu Dhabi will be fully operational by mid-2014 with a total annual capacity of 4.5 million tonnes. After this Borealis and Borouge will have approximately 8 million tonnes of polyolefin capacity.
Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene and propylene servicing a wide range of industries. Together with Borouge the two companies will produce approximately 6 million tonnes of Base Chemicals in 2014.
Borealis also creates real value for the agricultural industry with a large portfolio of fertilizers. The company distributes approximately 2.1 million tonnes per year.
Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and contribute to solve the world's water and sanitation challenges through product innovation and their Water for the WorldTM programme.
For more information visit borealisgroup.com | borouge.com | waterfortheworld.net
Borlink and Water for the World are trademarks of the Borealis group.
Borstar is a registered trademark of the Borealis group.