PRZOOM - /newswire/ -
Vienna, Austria, 2011/11/25 - Borealis, a leading international provider of chemical and innovative plastics solutions and a major player in fertilizers in Central Europe, has made a firm offer to GPN to acquire PEC-Rhin in its entirety - BorealisGroup.com. Borealis
This is related to GPN, which owns a 50% interest in PEC-Rhin, having exercised its pre-emption right for the remaining 50% stake from BASF SE.
Following this firm offer, the relevant employee representatives are being informed and consulted on the proposed sale to Borealis. The transaction is subject to the approval of the relevant antitrust authorities.
GPN is a leading European producer of nitrogen-based chemicals, with 750 employees in 2010. The company is active in three segments: Agriculture, Industry & Environment, and Engineering & Process (gpn.fr).
Located in Ottmarsheim, France, PEC-Rhin produces nitrogen fertilizers, ammonia and nitric acid. It has a workforce of around 180 employees.
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.
Building on Borealis’ unique Borstar® technology and their more than 50 years experience in polyolefins, Borealis and Borouge provide innovative, value creating plastics solutions for the infrastructure (pipe systems and power and communication cables), automotive and advanced packaging markets. In addition, Borealis offers a wide range of base chemicals from melamine and fertilizer to phenol and acetone.
Today, Borealis and Borouge have a manufacturing capacity of over 5.4 million tonnes of polyolefins (polyethylene and polypropylene) per year having recently completed a 1.5 million tonne capacity expansion in Abu Dhabi. The Borouge 3 plant expansion will be completed at the end of 2013 with a further capacity of 2.5 million tonnes per year (t/y) being fully operational in mid-2014. The companies continue to invest to ensure that their customers throughout the value chain and across the globe can always rely on product quality, consistency and security of supply.
Borouge (borouge.com) and Borealis (borealisgroup.com) are committed to the principles of Responsible Care® and proactively contribute to addressing the world’s water and sanitation challenges through their Water for the World™ (waterfortheworld.net) initiative.
Daplen and Water for the World is a trademark of the Borealis group.
Borstar is a registered trademark of the Borealis group.