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Borealis Divests Joint-ownership Share in Le Havre Urea Production Plant and Related Ammonia Storage Facility - Borealis announces that its French subsidiary Borealis Chimie divests its joint-ownership share in the Le Havre urea production plant and related ammonia storage facility at Gonfreville l'Orcher, France - BorealisGroup.com
Borealis Divests Joint-ownership Share in Le Havre Urea Production Plant and Related Ammonia Storage Facility

 

PRZOOM - /newswire/ - Vienna, Austria, 2014/06/17 - Borealis announces that its French subsidiary Borealis Chimie divests its joint-ownership share in the Le Havre urea production plant and related ammonia storage facility at Gonfreville l'Orcher, France - BorealisGroup.com. Borealis

   
 
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Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announces that its French subsidiary Borealis Chimie divests its joint-ownership share in the Le Havre urea production plant and related ammonia storage facility at Gonfreville l'Orcher, France. Following the divestment, the plant and related storage facility will be fully owned by Yara France, who already owns the remaining share and operates these facilities. Through the 2013 acquisition of GPN SA, subsequently renamed Borealis Chimie SAS, Borealis also assumed the 52.15% joint-ownership share in the Le Havre urea plant, which has an annual production capacity of 320,000 tonnes, and a 37.5% stake in the related ammonia storage facility. Borealis management has now taken the decision to divest its joint-ownership share in order to concentrate on its 100%-owned industrial sites and, in the case of existing partnerships, to give precedence to less restrictive legal forms. The divestment also includes the supply of urea by Yara to Borealis during a transition period in order to ensure continuity in product delivery. The divestment will not have an impact on Borealis employees.

"The strategic decision to conclude this transaction with Yara allows us to concentrate on our wholly-owned fertilizer production locations in France," explains Gerald Papst, Borealis Vice President Business Unit Fertilizer.

Borealis is the largest producer of nitrogen fertilizers in France and employs approximately 940 people. Borealis in France operates three production sites in Grand-Quevilly, Grandpuits and Ottmarsheim, as well as a storage site at La Rochelle. A turnaround currently in progress at Borealis Grand-Quevilly will improve the efficiency and reliability of the site and involves an investment of EUR 60 million in the renewal and maintenance of equipment.

"Borealis has a clear commitment to growing our fertilizers business in Europe," states Markku Korvenranta, Executive Vice President Base Chemicals. "We believe that fertilizers in Europe are an economically sustainable and attractive area of activity, we will continue to invest in our own assets to ensure reliable production and excellent customer service."

About Yara
Yara delivers solutions for sustainable agriculture and the environment. Our fertilizers and crop nutrition programs help produce the food required for the growing world population. Our industrial products and solutions reduce emissions, improve air quality and support safe and efficient operations. Founded in Norway in 1905, Yara has a worldwide presence with sales to 150 countries. Safety is always our top priority.

About Borealis in France
As the largest producer of nitrogen fertilizers in France, Borealis offers a range of products adapted to the needs of agriculture. With a total of around 940 employees, Borealis operates three production sites in France, Grand-Quevilly, Grandpuits and Ottmarsheim, as well as a storage site at La Rochelle. Borealis sites are located at the heart of important grain-producing regions.

In Grand-Quevilly, Borealis produces nitrogen fertilizers for agriculture. With a workforce of 380 people, the site has an annual production capacity of around 3.3 million tonnes. The industrial intermediates ammonia and nitric acid, which are used to produce fertilizers, are also sold in commercial volumes for use in the food and metallurgy industries, among others.

At its Grandpuits site, Borealis produces fertilizers for agriculture as well as solutions which reduce the NOx (nitrogen oxide) concentration in industrial and vehicular emissions. The plant also produces and sells industrial intermediates used not only in the production of nitrogen fertilizers, but in other industries as well. With a workforce of 220 people, the site has a production capacity of approximately 2 million tonnes per year.

In Ottmarsheim, Borealis produces ammonia and nitric acid. Portions are used on site as the raw materials in fertilizer production. The remaining ammonia and nitric acid volumes are sold as industrial agents used for example in the manufacture of synthetic fibres (adhesives, carpets and more) and high-performance technical plastics (automotive parts, rollers, IT and home stereo equipment etc.). Borealis Ottmarsheim has an annual capacity of over 1.1 million tonnes and employs approximately 180 people.

Borealis sells around 150,000 tonnes of fertilizers each year from its La Rochelle storage site, where around 40 people are employed.

There are 120 employees located in Paris, including commercial and corporate functions such as Finance, Health, Safety & Environment, Human Resources and Information Technology.

About Borealis
Borealis (borealisgroup.com) is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. This year, Borealis already celebrates its 20th anniversary. With headquarters in Vienna, Austria, Borealis currently employs around 6,400 and operates in over 120 countries. It generated EUR 8.1 billion in sales revenue in 2013. 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 its proprietary Borstar® and Borlink™ technologies and 50 years of experience in polyolefins, Borealis and Borouge support key industries including infrastructure, automotive and advanced packaging.

The Borouge 3 plant expansion in Abu Dhabi will be fully operational in 2014. Borouge 3 will deliver an additional 2.5 million tonnes of capacity when fully ramped up, bringing the total Borouge capacity to 4.5 million tonnes. Borealis and Borouge will then have approximately 8 million tonnes of polyolefin capacity.

Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene, propylene, butadiene and pygas, 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 more than 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 | waterfortheworld.net/.

Borstar is a registered trademark of the Borealis Group.
Borlink and Water for the World are trademarks of the Borealis Group.

 
 
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Borealis Divests Joint-ownership Share in Le Havre Urea Production Plant and Related Ammonia Storage Facility

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Contact: Kerstin Meckler - BorealisGroup.com 
+43 122 400 389 kerstin.meckler[.]borealisgroup.com
 
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