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' Strong Performance Drives Positive Q1 Results - Borealis, a leading provider of chemical and innovative plastics solutions, announces a net profit of EUR 174 million for the first quarter of 2011, a substantial increase compared to the same quarter in 2010
Borealis' Strong Performance Drives Positive Q1 Results


NewswireToday - /newswire/ - Vienna, Austria, 2011/05/19 - Borealis, a leading provider of chemical and innovative plastics solutions, announces a net profit of EUR 174 million for the first quarter of 2011, a substantial increase compared to the same quarter in 2010. 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 recorded a net profit of EUR 174 million in the first quarter of 2011, an increase of EUR 120 million compared to the first quarter
of 2010;
• Both the Polyolefins and Base Chemicals businesses improved versus last year's results;
• Continuing investment programme with the groundbreaking for a semi-commercial catalyst plant in Linz, Austria and the establishment of the largest butane cavern in Europe in Stenungsund, Sweden;
• Borouge expansion projects progressing according to plan.

This achievement was mainly driven by two factors: a healthy volume growth and margin improvement in both Polyolefins and Base Chemicals. In addition, the Borouge joint venture provided an increased contribution given the continuing successful ramp-up of Borouge 2.

The company’s overall financial position remains strong. Gearing remains well within the target range at 43%, reflecting an increase since the beginning of the year, driven largely by the dividend payment of EUR 100 million in March.

Continued Investment
Advancing further its Value Creation through Innovation strategy, Borealis celebrated the groundbreaking of a new semi-commercial catalyst plant in Linz, Austria in March 2011, a EUR 75 million investment to expand its innovation capabilities. During the first quarter, Borealis completed its investment of EUR 7.8 million to convert a naphtha cavern to butane use at its plant in Stenungsund, Sweden. The new cavern is by far the largest in Europe and will improve both competitiveness and feedstock flexibility at the site.

Borouge Expansion
In the Middle East and Asia, Borouge continues to perform well with an excellent safety record and firm demand for its products. All the major packages for the Borouge 3 expansion project have been awarded and the implementation phase has commenced.
Construction of the new Innovation Centre in Abu Dhabi is proceeding well and is scheduled to be completed by the end of 2011. The investment will further extend Borealis’ and Borouge’s capabilities to bring high value solutions to our customers.

Student Innovation Award
In January, Borealis announced the winners of its Student Innovation Award for 2010. This award recognises the most innovative masters and doctoral research papers on polyolefins, olefins or melamine, and was presented to the winners at the Borealis Annual Innovation Day in Porvoo, Finland.

Water for the World ™
As part of its Water for the World initiative to help address the global water challenge, Borealis has co-sponsored a recent study of agricultural irrigation practices in Italy. The research was developed through the analysis of practices in four critical areas: irrigation methods, management models, new technologies and the water intake and distribution grids. The study indicates that an overhaul of agricultural water supply could save up to EUR 17 billion over a 30 year period in Italy alone.

“The first quarter financial results represent an excellent start to 2011 and illustrate how our prudent and structured measures taken before and during the global crisis now position us well to benefit from the recovery,” says Mark Garrett, Chief Executive of Borealis. “The growth in sales and margins indicates we are on track to deliver another set of solid results in 2011. We will further build on our strategic focus on innovation, operational and commercial excellence while never compromising on safety.”

Borealis is a leading provider of chemical and innovative plastics solutions that create value for society. With sales of EUR 6.3 billion in 2010, customers in over 120 countries, and 5,100 employees worldwide, Borealis is owned 64% by the International Petroleum Investment Company (IPIC) of Abu Dhabi and 36% by OMV, the leading energy group in the European growth belt. Borealis is headquartered in Vienna, Austria, and has production locations, innovation centres and customer service centres across Europe and the Americas.

Through Borouge, a joint venture between Borealis and the Abu Dhabi National Oil Company (ADNOC), one of the world’s major oil companies, the company’s footprint reaches out to the Middle East, Asia Pacific, the Indian sub-continent and Africa. Established in 1998, Borouge employs approximately 1,600 people, has customers in more than 50 countries and its headquarters are in Abu Dhabi in the UAE and Singapore.

Building on the unique Borstar® technology and their experience in polyolefins for more than 50 years, Borealis and Borouge provide innovative, value creating plastics solutions for the infrastructure (pipe systems and power and communication cables), automotive and advanced packaging markets. In addition, Borealis offers a wide range of base chemicals from melamine and plant nutrients to phenol and acetone.

Today Borealis and Borouge have a manufacturing capacity of over 5.4 million tonnes of polyolefins (polyethylene and polypropylene) per year of which 26% are the result of a recently completed capacity expansion in Abu Dhabi. An additional 2.5 million tonnes per year (t/y) is scheduled for completion by mid-2014. The companies continue to invest to ensure that their customers throughout the value chain, across the globe, can always rely on product quality, consistency and security of supply.

Borouge ( and Borealis ( are committed to the principles of Responsible Care® and proactively contribute to addressing the world’s water and sanitation challenges through their Water for the World™ ( initiative.

Water for the World is a 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' Strong Performance Drives Positive Q1 Results

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!

Publisher Contact: Kerstin Meckler - 
+43 122 400 389 kerstin.meckler[.]
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:

Voith SmartServices Optimize Vehicle Use and Maintenance of Buses
LANXESS Offers New Polyamides and Polyesters for Welded Components
Tec-Ease, Inc. Announces Two New Products - Print Reading Computer Based Training
LANXESS Introduces Truck Air Filter Carriers Made of Highly Reinforced Polyamide 66
SCHOTT to Launch New Ultra-thin High Strength Glass for Use in Consumer Electronics
ITT Compact Automation and Turn-Act Brands Introduce New Air Spring Product Line for Demanding Industrial Applications
Dunn-Edwards Paints Names 'Honey Glow' Color of the Year for 2017
IEWC Announces Addition of C2G to Broadcast & AV Catalog
ITT's Cannon Brand to Introduce Next-generation, Ultra-fast Electric Vehicle Charging Solutions At eCarTec 2016
Rockwell Automation Launches New Industrial Security Appliance
3D Simulation Brings the Acoustic Effects of Basotect® Sound Absorption to Life
New EDRMAX by Nexans™ Cable Ensures Faster and Easier Grid Connections for Renewables
Taylor & Francis Partners with ReadCube to Enhance Discoverability of Article and Book Collections
BASF Launches New Enzyme Product Line Lavergy™ Complementing its Offering to the Detergents and Cleaning Industry
Hexagon Manufacturing Intelligence Establishes Commercial Operation in Romania

Boost Your Social Network
& Crowdfunding Campaigns

NewswireToday Celebrates 10 Years in Business


Visit  Intrinsic Executive Search Ltd

Visit  MagLar, Inc.

  ©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 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 (