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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Borealis’s profit dips and Borouge’s contribution shrinks

9:45 AM MDT | May 31, 2013 | —Natasha Alperowicz

Borealis reports a major drop in first-quarter net profit, to €61 million ($80 million) from €140 million in the year-earlier quarter, citing lower sales volumes and profits at the Borouge petrochemicals joint venture in Abu Dhabi as well as soft market conditions for polyolefins in Europe. Sales were 5% higher, at €1.98 billion. Borealis is owned 64% by International Petroleum Investment Co...

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