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Borealis Posts Positive Result; Ponders Stake in Nova…

8:31 AM MDT | March 26, 2010 | Natasha Alperowicz in Vienna

Borealis recorded a €13-million ($17.9 million) net profit in the fourth quarter of 2009 compared with a €122-million loss in the corresponding period of 2008, on sales 6% lower at €1.3 billion. Full-year 2009 net profit was €38 million compared with net profit of €239 million in 2008, partly due to divestments, on sales down 30%, to €4.7 billion. Announcing the results in Vienna recently, Borealis CEO Mark Garrett said that “prices and volumes fell off the edge of the cliff in the fourth quarter of 2008 and the first quarter of 2009, but they...

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