Vienna becomes the center of the fourth largest plastic group in the world!

Vienna becomes the center of the fourth largest plastic group in the world!

Wien, Österreich - A milestone in the plastic industry: OMV boss Alfred Stern has announced that the Boreal daughter and the Borouge company will join together to found the Borouge Group International. This joint venture will rise to the fourth largest plastic group in the world and be based in Vienna. "Krone" reports that this step in the middle of a third year of recession is considered a ray of hope for Austria and at the same time strengthens the position of the OMV. With this merger, the Borouge Group International is listed on the stock exchange in Abu Dhabi, with a secondary listing on the Vienna Stock Exchange.

Complex mergers are pending, such as K-Zeitung revealed: The new partners, OMV and ADNOC, bundle their shares with Nova Chemicals. ADNOC will initially acquire 100 % of Nova Chemicals' shares for $ 13.4 billion. After this step, the merger is expanded so that Borouge Group International can expand its presence in North America. The estimated annual capacity of the new company unit is 12.2 million tons of polyolefins and 11.4 million tons of olefins. In addition, 11,000 employees were recruited worldwide.

future -oriented plans and financial dimensions

The Borouge Group International is expected to have a company value of around 60 billion, with an annual profit fill of at least USD 2.2 billion. Innovative projects such as the Borouge 4, which is intended to expand the production of ethylene and polyethylene in the United Arab Emirates, are also the focus. The CEO Alfred Stern emphasizes that this merger is crucial for the growth strategy of the OMV because it should pave the way to a leading company for sustainable chemicals and energy.