Borealis Posts Strong Results; Abu Dhabi-Owned Group Grows

Borealis reported an 83% increase in second-quarter net profits, to €168 million ($239.7 million) on 18% higher sales at €1.897 billion. Borouge, Borealis’s joint venture in Abu Dhabi, contributed €97 million to net profits, Daniel Shook, Borealis CFO, tells CW. Garrett: Borouge making positive impact. Borealis expects a more difficult second half of 2011. “Volatility remains high and, based on the recent softening of market conditions, we expect the second half of the year to be much more challenging,” says Mark Garrett, Borealis...

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