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People & Business :: Earnings/Finance

Borealis secures €150 million in EIB funding for R&D

7:33 AM MST | February 3, 2014 | Francinia Protti-Alvarez

Borealis has received a €150-million ($202.2 million) loan from the European Investment Bank (EIB; Luxembourg) to finance research activities on plastic materials, Borealis and EIB say. The loan is supporting Borealis’s multiannual investment program at the company’s innovation headquarters in Austria and innovation centers in Finland and Sweden, the company says. The approximate cost of the investment is €300 million, the bank says. The project focuses primarily on product innovation in the advanced polymers. In addition, the funds will be...

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