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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
Borealis’s Profit Declines; Borouge Is a Bright Spot
8:00 AM MDT | August 17, 2012 | —Natasha Alperowicz
Borealis, one of Europe’s largest producers of polyolefins, reported a 33% decline in second-quarter net profit, to €112 million ($138 million), on flat sales of €1.87 billion, citing the European debt crisis and market volatility. CEO Mark Garrett, speaking exclusively to CW, says that the company’s base chemicals and fertilizers businesses, as well as Borouge—Borealis’s joint venture with Abu Dhabi National Oil at Ruwais, Abu Dhabi—are performing very well but that the company is continuing to struggle with polyolefins in...
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