Borealis
From Plastics Wiki, free encyclopedia
Borealis is a leading, innovative provider of plastics solutions with more than 40 years of experience in polyethylene (PE) and polypropylene (PP). Borealis products are converted by its customers into daily life products such as food packaging, medical devices, diapers, distribution pipes, automotive parts and power cables.
Their name comes from Aurora Borealis, the Polar aurora that is known as the Northern Lights.
The company's tagline is "Shaping the Future with Plastics".
Products
Borealis is a partner with companies developing plastics products such as food packaging, diapers, appliances, automotive parts, distribution pipes for water, gas and sewage, power cables, sporting equipment and medical devices.
They also produce certain hydrocarbons: ethylene, propylene, phenol and acetone.
Ethylene and propylene are the base used to produce polyethylene and polypropylene, for example.
Phenol and acetone are used in compact discs, car bumpers, water bottles, furniture manufactured from plywood, building insulations, computer screens and mobile phones.
Owners
Until recently, Borealis was owned 50% by the Norwegian oil company Statoil, and 50% by IOB Holdings, owned equally by OMV, the Austrian oil and natural gas group, and by the IPIC|International Petroleum Investment Company (IPIC) of Abu Dhabi.
Following receipt of the necessary regulatory approvals, the transaction announced on June 30, 2005 in which the International Petroleum Investment Company (IPIC) of Abu Dhabi and OMV Aktiengesellschaft of Austria agreed to purchase Statoil's 50% shareholding in Borealis A/S, has been closed.
As a result, the new Borealis ownership is 65% IPIC and 35% OMV. Statoil will continue as a major long-term feedstock supplier to Borealis.
