Borealis announces record net profit for 2014
The company cited stronger margins in the olefins and polyolefins business and an improved contribution from its Borouge affiliate following the startup of the Borouge 3 project, the biggest integrated polyolefins complex in the world, as the main reasons behind their stronger yearly results. Borouge, a joint venture between Borealis and the Abu Dhabi National Oil Company, is expected to have a total capacity of 4.5 million tons once the Borouge 3 complex is fully completed. By the end of the last year, three out of five polyolefin plants were launched.
The company also stated that they expected to see lower profitability in 2015 compared to 2014 amid weaker monomers prices as well as lower crude oil prices.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?