XRG, ADNOC’s international investment arm, and OMV announced the completion of the transactions leading to the creation of Borouge International. The new company was established through the combination of Borouge Plc and Borealis, and subsequently acquired NOVA Chemicals. According to the shareholders’ announcement, Borouge International is now the world’s largest company focused exclusively on the polyolefins sector and the world’s fourth-largest polyolefins producer.
The new entity is headquartered and tax-resident in Austria, with a regional headquarters in the UAE. The company will operate on the basis of plants, operating centres and innovation infrastructure located across North America, Europe and Asia. As the shareholders emphasize, a key strength of Borouge International is expected to be the combination of broad geographic diversification, a premium product portfolio, feedstock access and proprietary technologies.
The company is to develop materials for key end markets such as energy, mobility, AI infrastructure, sustainable packaging and healthcare. The information provided indicates that Borouge International will draw on proprietary technologies, extensive R&D capabilities and innovation centres located, among others, in Austria, the UAE, Canada, Finland and Sweden. The company fact sheet also lists technologies such as Borstar, Borlink, Borceed, Borcycle, Advanced Sclairtech, Novapol and Syndigo.
The operating scale of the new group is also significant. According to the company’s materials, Borouge International employs more than 10,000 people and has a portfolio of 16,500 patents. XRG and OMV further state that, thanks to existing assets and the Borouge 4 project, the company will have access to global production capacity of 13.6 million tonnes per year.
The owners also highlight synergy potential. Borouge International is expected to deliver more than USD 500 million per year in identified EBITDA synergies, 75% of which is to be realized within the first three years. The company has also received ratings of A from S&P, Baa1 from Moody’s and A- from Fitch, which is intended to confirm a stable financial structure and the ability to finance further growth.
Borouge International will be jointly controlled by XRG and OMV, each holding a 50% stake. A tender offer is planned for 2027 to simplify the group structure. Until then, Borouge Plc will remain listed on the Abu Dhabi Securities Exchange.
The new company will operate under the slogan “Essential materials, advancing the world”, underscoring its ambition to develop advanced materials for key sectors of the modern economy.
