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Borealis's Profits Soar on Better Base Chemicals and Durable Products Sales

3:24 AM MDT | August 12, 2010 | Natasha Alperowicz

Borealis (Vienna) reported a near tripling in net profit on 40% higher sales in the second quarter of this year. However, Mark Garrett, CEO, expects the rest of the year to remain volatile. Speaking to CW this morning, Garrett said that, in general, polyolefin margins are improving. Feedstock prices have fallen from a peak in April while polyolefin market prices continued to increase, leading to improved industry margins. Borealis's net profit, which includes its share of Borouge, the Abu Dhabi-based joint venture with the Abu Dhabi National Oil Co. (Adnoc), rose...

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