PRZOOM - /newswire/ -
Vienna, Austria, 2012/02/01 - Borealis, a leading international provider of chemical and innovative plastics solutions and a major player in fertilizers in Central Europe, announces it has acquired PEC-Rhin S.A. (Ottmarsheim, France) in its entirety from GPN. Borealis
Borealis, announces it has acquired PEC-Rhin S.A. (Ottmarsheim, France) in its entirety from GPN. GPN, a 100% subsidiary of Total, owned a 50% interest in PEC-Rhin and exercised its pre-emption right for the remaining 50% stake originally owned by BASF SE. This process has now been completed and approved by the relevant antitrust authorities. Pec-Rhin S.A. is a producer of nitrate fertilizers as well as ammonia, ammonia water and nitric acid for industrial use.
“We are happy to welcome our new colleagues in Ottmarsheim to the Borealis Group”, says Mark Garrett, Borealis Chief Executive.. "Pec-Rhin with its assets on the border between France and Germany on the Rhine river is certainly most complementary to our current fertilizer business, which is mainly focused on the Danube-region."
Borealis will now investigate how to best integrate the new site and its activities without disrupting the current business and production processes. “With the fertilizer season coming up it is important the customers continue to be supplied without interruptions,” says Markku Korvenranta, Borealis Executive Vice President Base Chemicals. "LINZER AGRO TRADE, the Borealis fertilizer organization, will be the sole distributor of the products."
GPN (gpn.com) is a leading European producer of nitrogen-based chemicals, with 800 employees in 2010. The company is active in three segments: Agriculture, Industry & Environment, and Engineering & Process (gpn.com).
Located in Ottmarsheim, France, PEC-Rhin S.A. 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.
Water for the World is a trademark of the Borealis group.
Borstar is a registered trademark of the Borealis group.