Borealis announces the appointment of His Excellency Suhail Al Mazrouei, Managing Director of International Petroleum Investment Company (IPIC) to its Supervisory Board and the position of Chairman of the Supervisory Board. Suhail Al Mazrouei replaces H.E. Khadem Al Qubaisi who recently resigned from IPIC’s Board of Directors. Among other leadership roles, Suhail Al Mazrouei is also Energy Minister of the United Arab Emirates (UAE) and the Chairman of several other UAE and international companies.
“Borealis has proven to be a very good investment for IPIC. The company has successfully managed an impressive transformation from a European polyolefins company with a small Joint Venture in Abu Dhabi to a global company with three profit centres: Polyolefins, Base Chemicals and Borouge,” comments Suhail Al Mazrouei. “Borealis’ future growth options are well in line with our strategy to invest in the energy and related sectors across the globe. I look forward to discovering new strategic opportunities together with Borealis’ Executive Board, management and employees.”
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For further information please contact:
Kerstin Meckler
Director Communications
Tel. +43 (0)1 22 400 389 (Vienna, Austria)
e-mail: kerstin.meckler@borealisgroup.com
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 6,500 and operates in over 120 countries. It generated EUR 8.3 billion in sales revenue in 2014. 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 2015. 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 2015.
Borealis also creates real value for the agricultural industry with a large portfolio of fertilizers and technical nitrogen products. The company distributes approximately 5 million tonnes per year.
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:
www.borealisgroup.com
www.borouge.com
www.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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