IHS Chemical Week

People & Business :: Energy and Feedstocks

Ineos Buys Borealis’s Norwegian Assets

10:12 AM MDT | July 31, 2007 | Ian Young

Ineos has agreed to acquire Borealis’s petrochemical manufacturing business in Norway for €290 million ($389 million). The business consists of a polyolefins complex at Bamble and a 50% stake in the Noretyl gas cracker at Rafnes. The deal is expected to close in the third quarter, subject to approval from European Union competition authorities. It is Ineos’s second major acquisition in Norway to be announced in the space of one month. Ineos announced in May that it plans to acquire Kerling (Oslo), formerly Hydro Polymers, from Norsk Hydro (CW...

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