August 12, 2004 -- Kongens Lyngby, Denmark -- Jobwerx News -- One of the leading producers of polyethylene and polypropylene products in Europe and also a significant supplier in key markets around the world, Borealis, announced 2nd quarter operating profit of EUR 49 million.

As a result of higher feedstock prices, this figure is EUR 7 million lower than the first quarter of 2004, however a significant improvement compared to the same period last year.

Strong demand for polyolefins with higher sales volume compared to both the preceding quarter and the same period last year produced the second quarter operating results.

Borealis is a leading supplier of plastics producing more than 3.5 million tonnes per year. These highly versatile plastics are converted into thousands of everyday products such as packaging, automotive components and building materials.

Commenting on the second quarter results, Chief Executive John Taylor said, "Demand for our products is growing strongly across all business areas. This is encouraging and a continuing indication that our strategy to create and deliver value for customers through innovation, continues to bear fruit."

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