Borealis Takes Over Melamine Producer

OMV (Vienna) and International Petroleum Investment Co. (IPIC; Abu Dhabi) plan to incorporate their Agrolinz Melamine International (AMI; Linz, Austria) joint venture into Borealis, another OMV-IPIC jv. The move should take place in the first half of 2007, the companies say. OMV and IPIC each own 50% of AMI; Borealis is a 65-35 jv between IPIC and OMV. IPIC bought its AMI stake from OMV in 2005, and IPIC owns 17.6% of OMV. AMI says it is Europe’s biggest producer of melamine, and the world’s second-biggest producer behind DSM. It also produces...

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