Borealis Fourth-Quarter Net Income Falls

Garrett: Challenging conditions ahead. Borealis says that fourth-quarter 2007 net income fell 42%, to €58 million, on sales up 13%, to€1.6 billion. Operating income decreased 74%, to €28 million. “There are signs of more challenging business conditions ahead,” but improved cost controls should position Borealis well to face a more volatile market, says CEO and chairman Mark Garrett, who took the helm at Borealis earlier this year, replacing John Taylor, who...

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