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
Synthomer announced the appointment of Lily Liu as Chief Financial Officer (CFO). Lily will take up the role no later than 1 July 2022, succeeding Steve Bennett who announced in August 2021 that he would step down once a suitable successor was in place.
Westlake Chemical (Houston, Texas) has reached agreement to acquire Hexion’s (Columbus, Ohio) epoxy business for approximately $1.2 billion. Westlake says the deal enhances chlorine and olefins integration and brings attractive opportunities in high-growth epoxy markets, including wind turbine blades, automotive lightweighting, aerospace and consumer coating applications.
Tetra Pak Iberia is launching a gamified app experience in partnership with digital studio Appetite Creative. The technology is enabled though scannable QR codes printed on drinking cartons and available to all brands in Southern Europe.