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Borealis's Profits Rise on Healthy Volume Growth
7:01 AM MDT | May 19, 2011 | Kerri Walsh
Borealis reported first-quarter net income more than tripled, to €54 million ($248 million), on sales up 32%, to €1.9 billion from the year-ago period. Operating profit nearly tripled, to €179 million. Polyolefins and base chemicals results improved on "healthy volume growth and margin improvement," Borealis says. The Borouge joint venture provided an increased contribution because of the successful ramp-up of Borouge 2, the company says. Borealis says its construction of a new innovation center in Abu Dhabi is scheduled to be...
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