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Borealis appoints new CEO for its fertilizers, melamine and technical nitrogen business

August 05/2021

MOSCOW (MRC) -- Borealis has appointed Leo Alders as acting CEO of its fertilizers, melamine and technical nitrogen business (Borealis nitrogen business) effective 1 September 2021, as per the company's press release.

In his new role, Leo Alders will be succeeding Rainer Hoefling, who steps down from his current role as CEO. Rainer Hoeflings next assignment within the broader Borealis group of companies will be announced separately.

Before joining Borealis in 1994 as Engineering & Maintenance Manager, Leo Alders held positions at Philips Electronics, Bayer, and Neste Chemicals. At Borealis, he held several leadership positions in Operations and Process Safety. He was appointed Vice President Base Chemicals in 2018 before taking on his current role of Chief Operating Officer (COO) of Borealis nitrogen business.

As MRC reported earlier, the Supervisory Board of Borealis appointed Wolfram Krenn as Executive Vice President Base Chemicals & Operations and member of the Borealis Executive Board, effective 1 July 2021.

We remind that in April 2021, Borealis commenced a new project to secure an increased supply of chemically recycled feedstock for the production of more circular base chemicals and polyolefin-based products. A feasibility study for a chemical recycling unit to be established at the Borealis production location in Stenungsund, Sweden, is now underway.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High denisty polyethylene (HDPE) shipments decreased. At the same time, PP shipments to the Russian market were 607,8900 tonnes in January-May 2021, up by 33% year on year. Shipments of homopolymer PP and PP block copolymers increased, whereas deliveries of PP random copolymers decreased.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,500 and operates in over 120 countries. In 2020, Borealis generated EUR 6.8 billion in sales revenue and a net profit of EUR 589 million. OMV, the Austria-based international oil and gas company, owns 75% of Borealis, while the remaining 25% is owned by a holding company of the Abu-Dhabi based Mubadala.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, fertilizers, petrochemistry, recikling, Borealis, Austria, Sweden.
Category:General News
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