PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Borealis AG

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Borealis and First Energy Bank Acquire 20.3% of Neochim AD - Borealis, announced that they have formed a joint venture in Bulgaria called FEBORAN AD. On December 21, 2013, FEBORAN purchased 20.3% of the shares of Neochim AD, a company listed on the Sofia stock exchange - 1stEnergyBank.com / BorealisGroup.com
Borealis and First Energy Bank Acquire 20.3% of Neochim AD

 

NewswireToday - /newswire/ - Vienna, Austria, 2013/12/23 - Borealis, announced that they have formed a joint venture in Bulgaria called FEBORAN AD. On December 21, 2013, FEBORAN purchased 20.3% of the shares of Neochim AD, a company listed on the Sofia stock exchange - 1stEnergyBank.com / BorealisGroup.com. Borealis

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, together with First Energy Bank of Bahrain, announced today that they have formed a joint venture in Bulgaria called FEBORAN AD. On December 21, 2013, FEBORAN purchased 20.3% of the shares of Neochim AD, a company listed on the Sofia stock exchange.

Neochim is Bulgaria’s leading producer and distributor of fertilizers and accounts for a significant share of Bulgaria’s ammonium nitrate output. Neochim is a publicly listed company under the Public Offering of Securities Act, and operates one ammonia plant, two nitric acid plants and an ammonium nitrate plant in Dimitrovgrad in southern Bulgaria.

“This investment is again in line with our strategy to grow our fertilizer business and to maintain our number one position in Central and Eastern Europe”, says Mark Garrett, Borealis Chief Executive. “First Energy Bank is a co-investor with sound financial credentials. This cooperation allows us to further strengthen our position in the growing Bulgarian market at a time when Borealis is investing into the integration of the recent acquisition GPN SA, now renamed Borealis Chimie SAS, in France.”

“We believe that fertilizers in Europe offer attractive business opportunities with further potential for growth particularly in Central and Eastern Europe,” explains Markku Korvenranta, Borealis Executive Vice President Base Chemicals. “Neochim is a well-managed dedicated fertilizer company with competitive plants and an advantageous logistics position. Borealis L.A.T will be distributing part of the production through its distribution network.”

“First Energy Bank welcomes the co-operation with Borealis in the joint investment in Neochim,” says Mohamed Ghanem, Chief Executive Officer, First Energy Bank. “This investment extends our investment portfolio both geographically into Europe and into a fast-growing market. Furthermore, it reinforces our strategy of participating in the energy sector and investing in a well established petrochemical entity in Bulgaria.”

Contact:
First Energy Bank: Communications Department
T: +973 1717 0000 (Manama, Kingdom of Bahrain)
E: aaziz[.]1stenergybank.com.

About First Energy Bank (FEB)
First Energy Bank B.S.C.© (1stenergybank.com) is an Islamic investment bank licensed by the Central Bank of Bahrain and headquartered in Manama, Kingdom of Bahrain. The Bank focuses on investments in the production, transportation, storage and refining of hydrocarbons, as well as oilfield services and energy sector technologies. FEB also explores new opportunities to invest in the development of power generation capacity and renewable energy technologies.
FEB was established in June 2008, with an authorized share capital of US$2 billion, and a paid up capital of US$1 billion consisting of 1 billion ordinary shares each with a par value of US$1. The bank’s shareholders include a range of organizations and individuals with interests in the energy sector from the Kingdom of Bahrain, the United Arab Emirates, Libya, the Kingdom of Saudi Arabia, and other countries in the region.

About Neochim AD
Neochim AD is one of Bulgaria’s leading producers of fertilizers and organic and inorganic chemicals, accounting for the majority of the country’s ammonium nitrate output. Neochim is a public company under the Public Offering of Securities Act.

About Borealis
Borealis (borealisgroup.com) is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,200 and operates in over 120 countries. It generated EUR 7.5 billion in sales revenue in 2012. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, with the remaining 36% 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. This volume will increase to around 5 million tonnes by the end of 2014.

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 World™ 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.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Borealis AG

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Manufacturing/Robotics articles,
CATCH Visitors via Your Competitors Announcements!


Borealis and First Energy Bank Acquire 20.3% of Neochim AD

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Borealis | Neochim AD
Publisher Contact: Kerstin Meckler - BorealisGroup.com 
+43 122 400 398 kerstin.meckler[.]borealisgroup.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Borealis AG securities in any jurisdiction including any other companies listed or named in this release.

Manufacturing/Robotics via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Borealis AG / Company Profile


Read Manufacturing/Robotics Most Recent Related Newswires:

PPG Initiates Global Restructuring, Targeting $125 Million in Annual Savings
Local Manufacturing Offers Strong Growth Opportunities in the Thriving Nigeria and South Africa Cement Additives Markets Reports Frost & Sullivan
BASF Expands Automotive Refinish Coatings Manufacturing to Asia Pacific
Alstom’s South African JV Gibela Successfully Handed Over to PRASA The First X’Trapolis Mega
Neptune Lines Reduces Fuel Consumption and Emissions with Hempaguard
BASF Launches Ucrete MF40AS Industrial Flooring System on the European Market
Raritan Unveils Intelligent Cabinet Concept in Collaboration with Legrand Data Communications At Gartner Conference
Beretta Continues Global Celebration of its 490th Anniversary with Unveiling of One-of-a-Kind Shotgun in New York City
LANXESS Virkon S Proven to Kill Highly Pathogenic Avian Influenza Strains
BASF to Offer Tailor-made Product Innovation At European Coatings Show
Nexans to Drive Sustainable Transportation At its Annual Technical Conference
Tripp Lite Introduces A New Series of Pre-assembled 40 Gb to 10 Gb Breakout Fiber Patch Panels
Borealis and Asmidal Sign Memorandum of Understanding to Jointly Evaluate Opportunities for Melamine Production in Algeria
SCHOTT’s New Ultra-Thin Glass is the Thinnest, Toughest, Most Eco-Friendly Glass for Consumer Electronics
Hexagon Manufacturing Intelligence Supplies PTB with Leitz PMM-G

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  JobsWare.com

Visit  Triggr & Bloom





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)