Borealis, a leading provider of chemical and innovative plastics solutions, announces that it will increase all polyethylene and polypropylene prices by EUR 100/tonne for January, 2012.
“This decision to increase prices reflects our assumptions on the economic development and it's necessary for the implementation of our Value Creation through Innovation strategy,” comments Gerd Löbbert, Borealis Executive Vice President Polyolefins.
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 around 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 and gas 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 is headquarters are in Abu Dhabi in the UAE and Singapore.
Borealis increases polyethylene and polypropylene prices