London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Borealis starts off the challenging year 2010 with a positive result

May 07/2010

(Borealis) -- Borealis, a leading provider of chemical and innovative plastics solutions, announces a net profit of EUR 54 million for the first quarter of 2010, compared to a net loss of EUR 56 million in the first quarter of 2009. Despite an increase in net debt, the company's financial position remains solid with a gearing ratio of 49% at the end of Q1, compared to 43% in Q1 2009, within Borealis' target range of 40-60%.

 

In line with the general market trend, both feedstock prices and polyolefin market prices continue to increase. Due to this development as well as some delays in expansion projects in the Middle East, industry margins improved during the first quarter of 2010. Borealis' positive result was also driven by an increase in sales of value added products within the company's portfolio.

 

In the base chemicals business group, Borealis saw some recovery with sales volumes in melamine and plant nutrients as well as in phenol. The results of Borealis' joint venture Borouge also contributed positively to the results of the first quarter.

 

In an effort to stay competitive, Borealis closed, as planned, its high-density polyethylene plant in Beringen, Belgium on March 31.

 

mrcplast.com

MRC Reference

Borealis. The share in the Russian market in 2008:

 polyethylene - 4.1% (including HDPE - 4.7%, LLDPE - 8.7%);
 polypropylene - 3.2% (PP-impact - 7.5%).

 

Annual sales growth in Russia over the last 5 years:
 polyethylene - 11%;
 polypropylene - 6%.

 

Leader in polymers processing technologies:
 extrusion coating;
 cable extrusion;
 injection molding.


Tags:No
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe