Borealis: Long-term commitment to production site in Porvoo/Finnland

Borealis is going to strengthen its long-term commitment to the production site in Porvoo, Finland by a 10 year contract with Neste Oil to supply feedstock and further investment in the site's innovation capabilities.

As Borealis announces the contract with Neste Oil covers all feedstock and product streams between the Neste Oil refinery and Borealis' production plants in Porvoo as well as related logistics services. The 10-year contract continues the co-operation of both companies in the areas of asset development and business optimisation as well as Health, Safety and Environment (HSE).

"This contract is an important milestone for us,” emphasises Borealis Chief Executive Mark Garrett. "As we have secured the feedstock supply and refinery integration, we can continue to develop our Porvoo facilities into the future and benefit from the close co-operation within the chemical cluster."

To further develop its innovation capabilities in Porvoo, Borealis is to invest a total of 5 million EUR in the existing Borstar® pilot plant. The investment includes the addition of new hardware to enable the company to further develop its proprietary Borstar technology. The pilot plant enhancements is expected to be leading to better product homogeneity, higher melt strength and increased product purity.

"The Borstar technology is one of the cornerstones of our success and a key element for our international growth strategy," states Mark Garrett. "This investment will support our strategy to lift the Borstar process technology to the next level. It contributes to our Value Creation through Innovation strategy allowing a further step change in the production of innovative polymers".

More information: www.borealisgroup.com