 |
2005-10-16 News Headlines Plastics
Borealis Provider of
Plastics Solutions Ownership Change Final
Plastics solutions provider Borealis change in ownership passes regulatory
approvals, with IPIC and OMV managing new ownership.
The transaction announced
on June 30 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, following receipt of the
necessary regulatory approvals, been closed. The new ownership of Borealis
is 65% IPIC and 35% OMV. Dr. Gerhard Roiss, Deputy CEO of OMV, remains
the Chairman of Borealis A/S and Mr. Mohamed Al Khaily, Managing Director
of IPIC, will be the Vice Chairman.
Both IPIC and OMV are fully supportive of Borealis' value creation through
innovation strategy. Statoil will remain as a major long-term feedstock
supplier to Borealis.
Company Backgrounds
Borealis
Borealis is a leading, innovative provider of plastics solutions. Its
technology shapes daily life products and forms the basis of next generation
innovation and creative development in plastics. There is a commitment
to the vision of 'Shaping the Future with Plastics' since Borealis' technology
and products are playing an increasingly important role and are necessary
for the development of modern society and tomorrow's world.
In 2004, the company had a net income of EUR 203 million. With EUR 5 billion
revenue in sales and 4,500 employees, Borealis has more than 40 years
of experience as a reliable supplier of polyethylene (PE) and polypropylene
(PP) products. Borealis is a partner to its customers manufacturing and
developing products such as food packaging, diapers, appliances, automotive
parts, distribution pipes for water, gas and sewage, power cables, sporting
equipment and medical devices.
IPIC
The International Petroleum Investment Company (IPIC) is the Abu Dhabi
state enterprise responsible for all foreign investments in the oil and
chemicals sector. It is supervised by the Supreme Petroleum Council of
Abu Dhabi which oversees the Emirates' oil and gas operations as well
as related industries. It is an internationally active, strategic investment
company from Abu Dhabi which holds a 17.6% stake in OMV Aktiengesellschaft.
OMV Aktiengesellschaft
With Group sales of EUR 9.88 billion and a workforce of 6,475 employees
in 2004, as well as market capitalization of approx. EUR 15 billion, OMV
Aktiengesellschaft is Austria's largest listed industrial company. As
the leading oil and gas group in Central Europe, OMV is active in Refining
and Marketing (R&M) in 13 countries and has set the goal to increase its
market share to 20% by 2008. In Exploration and Production (E&P) OMV is
active in 17 countries on five continents. In the Gas business segment
OMV has storage facilities and a 2,000 km long pipeline system, transporting
43 bcm of natural gas annually to countries such as Germany and Italy.
OMV holds stakes in integrated chemical and petrochemical plants - 50%
in AMI Agrolinz International GmbH and 35% stake in Borealis A/S, one
of the world's leading producers of polyolefin. Other important holdings
are: 51% of Petrom SA, 50% of EconGas GmbH, 45% of the BAYERNOIL refining
network and 10% of the Hungarian company MOL.
With the acquisition of a majority stake in Petrom, Romania's biggest
oil and gas company in 2004, OMV has become the largest oil and gas group
in Central Europe, with oil and gas reserves of over 1.4 billion boe,
daily production of around 340,000 boe and an annual refining capacity
of 26.4 million metric tons. OMV now has over 2,457 gas stations in 13
countries. The market share of the group in the R&M business segment in
the Danube Region is now approximately 18%.
Statoil
Statoil, an integrated oil and gas company, is one of the world's largest
net crude oil sellers. It is a major supplier of natural gas in the European
market and has substantial industrial operations. The Group is operator
for 60% of all Norwegian oil and gas production and its international
production is rising steeply. The Group employs about 24,000 people and
has activities in 29 countries.
Click
here to view more news headlines.
E-mail this page to a friend 
|
|
Changing
Jobs? View Homes for Sale Nationwide
Post
Jobs in Plastics
 
Featured News
- LANXESS Price
Increase for Plastics Compounds and Film Extrusion Grades
- American Management Association
Certification and Training Programs
- Micel Industrie Becomes New
Distributor of GE Plastics Ultem High Performance Films in
France
- Saint-Gobain Performance
Plastics Solutions for Home Appliances
- All this Months News
Copyright - Unless
otherwise stated all
contents of this web site are © 1998/2005- JOBWERX.COM.
Create on-line tests,
quizzes, assessments and exams in minutes!
Easy as 1, 2, 3
|
