This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Dos compañías compran la totalidad de la química Borealis
Two companies buy all of the chemical Borealis
05/08/2005
on August 5, 2005
The Austrian oil company OMV and the international company of oil investments (IPIC) of the United Arab Emirates will be made with all of the Danish Borealis, the second chemical company in Europe, according to anunaciaron recently in Vienna the parties involved in the operation.
OMV and IPIC have since 1998 of 50 per cent of Borealis, specialized in the production of plastics, and acquired the remaining 50 percent, which was in the hands of the Norwegian oil company Statoil now for 920 million euros.
In this way OMV would have a 35 per cent of Borealis, while IPIC, which is one of the main shareholders in the Austrian company, falls to 65%.
Borealis, administrative central which is located in Denmark, produces about 3.5 million tons of polyethylene and polypropylene, and maintains factories in Belgium, Brazil, Germany, Finland, Italy, Norway, Austria, Sweden, USA and UAE.
