Borealis Group AG (Vienna, Austria) has decided to start a process divesting its nitrogen business unit including fertilizer, technical nitrogen and melamine products. Such a divestment would be subject to information and consultation requirements with employee representatives as may be required under applicable laws.
Borealis operates fertilizer production plants at the heart of important crop-producing regions in Austria and France. With around 60 warehouses across Europe and around five million tonnes of products supplied annually in Western, Central and South East Europe via the Borealis L.A.T distribution network, Borealis is one of Europe’s leading fertilizer producers. The company’s share in fertilizer production sites in The Netherlands and Belgium (“Rosier”) is presently not being considered within the potential sales process. Borealis is also one of the global market leaders in melamine, the most valuable and sophisticated product in the nitrogen chain, with its operations in Austria and Germany serving the essential raw material primarily to the woodworking industry.
Borealis will continue to focus on its core activities of providing innovative solutions in the fields of polyolefins and base chemicals, thus extending OMV’s value chain towards higher value chemical products and the transformation towards a circular economy.
by Mary Page Bailey
The separation is expected to be completed by early Q3, following the receipt of all relevant approvals, including final Board approval. Nouryon intends to reduce its own debt with proceeds received from a planned external financing by Nobian.
Trinseo became a producer of the resin when it acquired Arkema’s PMMA business. It announced that it closed on the €1.14bn deal earlier this month.
As part of the EU’s Single-Use Plastic Directive (SUPD), it will become mandatory for caps and lids to remain attached to all beverage containers up to three liters in capacity from 2024.