Polyolefins group Borealis (Vienna / Austria; www.borealisgroup.com) improved its net profit by 18% year-on-year in the third quarter of 2016, with the end result rising to EUR 304m from EUR 257m in the prior quarter it called its second strongest (see Plasteurope.com of 26.08.2016). The Austria-based chemicals and plastics producer attributed the “excellent” performance to continued strong polyolefins margins and a “solid” contribution from Borouge, the 50:50 joint venture with Abu Dhabi National Oil (Adnoc, Abu Dhabi; www.adnoc.com). Net sales for July-to-September 2016 totalled EUR 1.75 bn, down 6% against the EUR 1.87 bn posted a year earlier.

With net profit for the first nine months up 16% to EUR 868m, despite an 8% setback in net sales to EUR 5.4 bn, CEO Mark Garrett said this is “shaping up to be another record year.” He added that management expects “another solid result” in the fourth quarter, but warned that the market environment could become “less favourable in the coming quarters, especially in the fertilizer segment."

Following the start-up of the cross-linked polyethylene (XLPE) plant at Borouge in Ruwais / UAE, the first compounds based on the group’s proprietary “Borlink” technology are now being sold commercially. Borealis said the new 740,000 t/y PDH plant proposed for its site at Kallo / Belgium would strengthen its long-term commitment to be an innovative European supplier of propylene and polypropylene. A feasibility study is expected to pave the way – see Plasteurope.com of 27.09.2016.