PRZOOM - /newswire/ -
Vienna, Austria, 2013/08/07 - Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announces that its leading fertilizer wholesaler and distributor LINZER AGRO TRADE GmbH is changing its name to Borealis L.A.T GmbH - Boreal. Borealis
The name change takes effect as of 1 July 2013.
Borealis L.A.T is a 100%-owned subsidiary of Borealis AG and a member of the Borealis Group. Its products are distributed under the brand name "L.A.T growing with joy." The new name is to reflect the heritage of the past yet at the same time symbolise the company's intensified focus on the areas of internationalisation and sustainability.
"Our customers associate the established 'L.A.T brand growing with joy' with the highest quality, reliability and safety standards," explains Gerald Papst, Vice President of Borealis' Business Unit Fertilizer at Borealis L.A.T "Renaming our company Borealis L.A.T brings us into better alignment with our aim to provide sustainable growth to both our customers and our distribution network." Gerald Papst emphasises that the name change is the only change customers and partners will see in day-to-day operations.
Borealis L.A.T distributed around 2.5 million tonnes of fertilizers and nitrogen-based industrial chemicals in 2012. As a result of the recent Borealis acquisitions of GPN and Rosier, both of which have production facilities in Northern Europe, Borealis L.A.T projects significantly higher annual volumes of around 5 million tonnes in coming years. Borealis L.A.T has steadily developed its distribution network, building what is now a pan-European presence from its traditional Danube region roots. With headquarters in Linz, Austria, Borealis L.A.T has over 50 warehouses as well as seven subsidiaries in Central and Eastern Europe.
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,200 and operates in over 120 countries. It generated EUR 7.5 billion in sales revenue in 2012. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, with the remaining 36% owned by OMV, the leading energy group in the European growth belt. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
Building on the unique Borstar® and BorlinkTM technologies and 50 years of experience in polyolefins, Borealis and Borouge support key industries including infrastructure, automotive and advanced packaging. The Borouge plant expansion in Abu Dhabi will be fully operational by mid-2014 with a total annual capacity of 4.5 million tonnes. After this Borealis and Borouge will have approximately 8 million tonnes of polyolefin capacity.
Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene and propylene servicing a wide range of industries. Together with Borouge the two companies will produce approximately 6 million tonnes of Base Chemicals in 2014.
Borealis also creates real value for the agricultural industry with a large portfolio of fertilizers. The company distributes approximately 2.1 million tonnes per year. This volume will increase to around 5 million tonnes by the end of 2014.
Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and contribute to solve the world's water and sanitation challenges through product innovation and their Water for the World™ programme.
For more information visit borealisgroup.com | borouge.com | linzeragrotrade.com | waterfortheworld.net
Borlink and Water for the World are trademarks of the Borealis Group.
Borstar is a registered trademark of the Borealis Group.