Borealis

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Company in Stenungsund, Sweden

Last updated November 4, 2026

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Overview

Borealis is an Austrian-headquartered chemicals and plastics company that developed from a Nordic petrochemicals joint venture into an international supplier of polyolefins, base chemicals and circular material solutions. It was formed in 1994 when the petrochemical and polyolefin interests of Finland’s Neste and Norway’s Statoil were combined. The company initially operated from Denmark and retained strong Nordic roots, reflected in the name Borealis, derived from the Latin expression for “northern.” Its headquarters moved to Vienna in 2006, and the business subsequently became closely associated with Austria’s OMV and Abu Dhabi-linked investors. The company’s core business is business-to-business rather than consumer-facing. Borealis supplies polyethylene, polypropylene and related compounds to manufacturers serving packaging, consumer products, mobility, energy, infrastructure, healthcare, appliances and other industrial markets. Its materials may be used in flexible and rigid packaging, caps and closures, bottles, films, nonwoven fabrics, automotive components, battery cases, wire and cable insulation, pipes, fittings, appliances and technical molded parts. Borealis also produces base chemicals such as ethylene, propylene, phenol and acetone, which are feedstocks for downstream manufacturing. Hydrocarbon units process feedstocks including naphtha, propane, ethane and butane into olefins and cracker co-products. A defining technological asset is Borstar, Borealis’ proprietary process and catalyst platform for polyethylene and polypropylene. Borstar supports multimodal and bimodal polymer structures that can combine strength, toughness, processability, lightweighting and recyclability. The technology has been developed through research centers in Finland and Sweden and the company’s innovation facilities in Linz, Austria. Borealis has historically positioned innovation around demanding applications where plastics can replace heavier or less efficient materials, including automotive parts, energy cables, infrastructure products and advanced packaging. From the mid-2000s onward, Borealis expanded through joint ventures and geographic partnerships. Its most important international relationship was Borouge, a polyolefins joint venture with Abu Dhabi National Oil Company, now associated with XRG. Borouge’s integrated production complex in Ruwais became a major outlet for Borstar technology and helped extend Borealis’ reach into the Middle East and Asian growth markets. Other partnerships included Borealis Brasil with Braskem in Brazil and Baystar with TotalEnergies in the United States. Circularity became a central strategic theme during the 2010s and 2020s. Borealis acquired recycling businesses including mtm Plastics and mtm Compact in Germany in 2016, Ecoplast in Austria in 2018, Rialti in Italy in 2023 and Integra Plastics in Bulgaria in 2024. It also took a majority position in Renasci, a Belgian advanced recycling company. These moves expanded the company’s ability to process post-consumer waste, produce recycled polyolefin compounds and supply circular feedstock. Product and technology families associated with this strategy include Borcycle for mechanically and chemically recycled materials, Bornewables for renewable-feedstock polyolefins, Borvida for circular base chemicals and Recleo for recycled polyolefin portfolios. The EverMinds platform was used to organize partnerships, customer programs and public engagement around circular plastics. Borealis also supported Project STOP, an initiative launched with SYSTEMIQ in 2017 to reduce plastic leakage into the environment by improving waste collection and management systems in emerging markets. The company participated in industry and policy discussions concerning design for recycling, recycled content, reuse, plastics regulation and a global plastics treaty. The business sold its nitrogen division, including fertilizers, melamine and technical nitrogen products, to Agrofert in July 2023. This divestment sharpened the company’s focus on polyolefins, base chemicals and circular solutions. In 2024, Borealis reported net sales of approximately €7.85 billion, net profit of approximately €566 million and a year-end workforce of 6,090 people. These figures relate to the pre-combination Borealis group and should not be treated as current Borouge International financial figures. In 2025 and 2026, Borealis entered a major structural transition. OMV and ADNOC agreed to combine Borealis and Borouge and to acquire NOVA Chemicals, creating Borouge Group International, later branded Borouge International. The transaction completed on March 31, 2026. Borealis remains an operating legal entity and business platform within the new group, but the standalone Borealis corporate identity has been integrated into a broader global polyolefins organization headquartered in Vienna with regional operations in Abu Dhabi, North America and other markets.

History

Borealis was created in 1994 when Neste of Finland and Statoil of Norway combined their petrochemical and polyolefin interests. Each company initially held 50 percent of the new venture. The name referred to the company’s Nordic origins, and the first head office was established in Lyngby, Denmark. Borealis inherited production assets and technical knowledge from both parent companies, giving it a base in polyethylene, polypropylene and related petrochemicals. The early years were defined by consolidation and technology development. The first commercial plant based on Borealis’ proprietary Borstar polyethylene technology began production at Porvoo, Finland, in 1995. Borstar subsequently became the company’s central platform for producing multimodal polyethylene and polypropylene grades with combinations of strength, toughness, processability and lightweighting. Borealis continued to invest in research and development in Finland, Sweden and Austria, while also maintaining manufacturing operations in Belgium, Austria, Germany and other European locations. Ownership changed in the late 1990s and mid-2000s. Neste sold its interest to Austria’s OMV and Abu Dhabi’s International Petroleum Investment Company, while Statoil later exited. In 2005, IPIC and OMV agreed to acquire Statoil’s 50 percent shareholding, resulting in a 64 percent IPIC and 36 percent OMV ownership structure. Borealis moved its headquarters from Copenhagen to Vienna in 2006, reinforcing its Austrian corporate base and its relationship with OMV. International expansion accelerated through the company’s relationship with Abu Dhabi National Oil Company. Borealis and ADNOC formed Borouge in 1998, with Borouge’s first production facilities in Ruwais becoming operational in the early 2000s. Borouge used Borealis technology and helped establish a large-scale polyolefins platform in the Middle East. Expansions known as Borouge 2 and Borouge 3 increased production capacity and extended the partnership’s reach into Asia and other high-growth markets. Borealis also developed joint ventures and commercial operations in Brazil and North America, including Borealis Brasil with Braskem and Baystar with TotalEnergies. The company’s portfolio historically included polyolefins, hydrocarbons, base chemicals and nitrogen products. Its base chemicals operations produced olefins and aromatic chemicals such as ethylene, propylene, phenol and acetone. The nitrogen business supplied fertilizers, melamine and technical nitrogen products. In July 2023, Borealis sold the nitrogen business to Agrofert, allowing management to concentrate more strongly on polyolefins, base chemicals, recycling and material innovation. Recycling and circularity became increasingly important during the 2010s. Borealis acquired mtm Plastics and mtm Compact in Germany in 2016, adding post-consumer polyolefin recycling capacity. It acquired Ecoplast in Austria in 2018, strengthening its ability to process household and industrial plastic waste into recycled polyethylene grades. In 2023, the company acquired Rialti in Italy, a producer of recycled polypropylene compounds, and took a majority stake in Renasci, a Belgian company involved in advanced recycling. In 2024 it acquired Integra Plastics in Bulgaria, further expanding mechanical recycling capacity. Borealis organized much of this work through the EverMinds platform and product families such as Borcycle, Bornewables, Borvida and Recleo. Borcycle covers recycled polyolefin solutions produced through mechanical and chemical processes. Bornewables uses renewable feedstocks in mass-balanced polyolefin production. Borvida applies circular and renewable feedstocks to base chemicals. The company also promoted design for recycling, reuse, lightweighting and improved material efficiency. In 2017, Borealis and SYSTEMIQ launched Project STOP, which focused on improving waste collection and preventing plastic leakage in emerging markets. During 2023 and 2024, Borealis operated in a difficult European chemicals market characterized by high energy costs, weak demand and excess polyolefin capacity. Its 2024 results nevertheless improved sharply, with net profit rising to approximately €566 million from approximately €159 million in 2023. Borealis reported 6,090 employees at the end of 2024 and continued to invest in recycling, compounding, cable materials, the Borstar technology platform and a new propane dehydrogenation facility in Kallo, Belgium. The next major turning point was a structural combination agreed by OMV and ADNOC in March 2025. The partners planned to combine Borealis and Borouge and acquire NOVA Chemicals, creating Borouge Group International. Borealis changed its legal form from AG to GmbH in June 2025 in preparation for the restructuring. In September 2025, Borealis became wholly owned by the new group structure. The combination completed on March 31, 2026, and the resulting company adopted the Borouge International brand. Borealis continues as a legal and operational component of that group, but its former standalone corporate reporting and branding have been superseded by the larger global platform.

2026
Borouge International is formed
[8]OMV and XRG complete transactions to create Borouge Internationalomv.com
The combination of Borealis and Borouge and the acquisition of NOVA Chemicals are completed, creating Borouge International as the successor global platform.
2025
Combination with Borouge and acquisition of NOVA Chemicals are agreed
[4]Borealis Standalone Annual Report 2025borealisgroup.com
OMV and ADNOC agree to create Borouge Group International by combining Borealis and Borouge and acquiring NOVA Chemicals.
2025
Borealis changes legal form to GmbH
[16]Borealis changes legal form to GmbHborealisgroup.com
Borealis changes from an Aktiengesellschaft to a Gesellschaft mit beschränkter Haftung in preparation for the new group structure.
2024
Integra Plastics is acquired
[2]Borealis 2024 Group Management Reportborealisgroup.com
Borealis acquires Bulgarian advanced mechanical recycler Integra Plastics, adding recycled polyolefin capacity.
2024
Borealis reports improved financial performance
[3]Borealis Group Annual Report 2024borealisgroup.com
The company reports approximately €7.85 billion in net sales and approximately €566 million in net profit for 2024.
2023
Nitrogen business is sold
[14]Nitrogen business is soldborealisgroup.com
Borealis divests its fertilizer, melamine and technical nitrogen operations to Agrofert.
2023
Rialti and Renasci expand circular capabilities
[15]Rialti and Renasci expand circular capabilitiesborealisgroup.com
Borealis acquires Rialti in Italy and takes a majority stake in Renasci in Belgium, strengthening recycled polypropylene compounding and advanced recycling.
2022
Strong Foundation–Performance Excellence program begins
[2]Borealis 2024 Group Management Reportborealisgroup.com
Borealis launches a performance program under its 2030 strategy focused on pricing, feedstock sourcing, cost control and operational efficiency.
2020
Bornewables portfolio is commercialized
[13]Bornewables portfolio is commercializedborealisgroup.com
Borealis commercializes polyolefin products made with renewable feedstocks and places them within its broader circular economy strategy.
2018
Ecoplast acquisition
[10]Borealis (company), Wikipediaen.wikipedia.org
Borealis acquires Austrian recycler Ecoplast, adding recycled LDPE and HDPE capabilities.
2017
Project STOP is launched
[7]Borealis Project STOPborealisgroup.com
Borealis and SYSTEMIQ launch Project STOP to improve waste collection and reduce plastic leakage in emerging markets.
2016
Acquisition of mtm Plastics and mtm Compact
[10]Borealis (company), Wikipediaen.wikipedia.org
Borealis enters a larger role in post-consumer polyolefin recycling through the acquisition of German recyclers mtm Plastics and mtm Compact.
2006
Headquarters move to Vienna
[1]Borealis historyborealisgroup.com
Borealis relocates its head office from Copenhagen to Vienna, where it remains headquartered.
2005
OMV and IPIC acquire Statoil’s stake
[12]OMV and IPIC acquire Statoil’s stakeborealisgroup.com
OMV and IPIC purchase Statoil’s 50 percent holding, creating a 64 percent IPIC and 36 percent OMV ownership structure.
2001
Borouge joint venture begins operations
[1]Borealis historyborealisgroup.com
Borealis and ADNOC begin their major polyolefins partnership in Abu Dhabi, combining Borealis technology with regional feedstock advantages.
1998
Neste sells its Borealis interests
[1]Borealis historyborealisgroup.com
Neste transfers its ownership interests to OMV and IPIC, while Borealis and ADNOC establish the foundations of their long-term Borouge partnership.
1995
First Borstar polyethylene plant starts production
[11]First Borstar polyethylene plant starts productionborealisgroup.com
The first production facility based on Borealis’ proprietary Borstar technology begins producing polyethylene grades at Porvoo, Finland.
1994
Borealis becomes operational
[1]Borealis historyborealisgroup.com
Neste and Statoil combine their petrochemical and polyolefin interests to form Borealis, initially with equal ownership and a head office in Lyngby, Denmark.

Products and positioning

B2B industrial materials supplier focused on high-performance polyolefins, petrochemicals, circular polymers and application-specific solutions.

Polyolefin technology · 1995
Borstar
Borstar is Borealis’ proprietary technology and catalyst platform for polyethylene and polypropylene. It enables multimodal and bimodal polymer structures with tailored combinations of toughness, strength, stiffness, processability and lightweighting. Borstar technology supports materials for packaging, infrastructure, mobility, energy and other demanding applications, and has also been adapted to incorporate recycled and renewable feedstocks into selected product solutions.
Polyolefins · 1995
Polyethylene
Borealis supplies polyethylene grades for flexible packaging, films, extrusion coating, pipes, wire and cable, rotational molding, consumer goods and industrial applications. The portfolio includes materials designed for strength, barrier performance, processability, low-temperature toughness, recyclability and reduced material use. Borstar polyethylene technology is used to create grades for demanding infrastructure and packaging applications.
Polyolefins · 1994
Polypropylene
Borealis polypropylene materials serve automotive, appliances, packaging, healthcare, fibers, construction and consumer product manufacturers. The portfolio includes homopolymers, impact copolymers, random copolymers and compounds engineered for stiffness, impact resistance, lightweighting, surface quality and processing efficiency. Polypropylene compounds are also central to Borealis’ recycled-material and circular product strategy.
Circular polyolefins · 2018
Borcycle
Borcycle is Borealis’ family of circular polyolefin solutions. Borcycle M covers mechanically recycled materials and compounds, while Borcycle C uses chemically recycled feedstock to produce high-quality, virgin-like polymers for applications that may require demanding performance or appearance. The portfolio is supported by recycling assets, design-for-recycling expertise and value-chain partnerships.
Renewable-feedstock polyolefins · 2020
Bornewables
Bornewables is a portfolio of premium polyolefins manufactured using renewable feedstocks, including sustainably sourced waste and residue-based raw materials. The products are intended to provide a lower-fossil-footprint alternative while retaining performance characteristics needed in existing processing and application systems. They are part of Borealis’ mass-balance and circular economy approach.
Circular base chemicals · 2024
Borvida
Borvida is Borealis’ family of circular base chemicals made using sustainable raw materials and alternative feedstocks. The products are intended to reduce the environmental footprint of chemical intermediates used throughout industrial value chains. Borealis reported the first commercial sales from the Borvida portfolio in 2024.
Petrochemicals · 1994
Base chemicals
Borealis produces base chemicals including ethylene, propylene, phenol and acetone. These materials are used as feedstocks for polymers, solvents, coatings, adhesives, detergents, pharmaceuticals and numerous industrial products. The business is linked to Borealis’ hydrocarbon operations, which process naphtha, propane, ethane, butane and other feedstocks into olefins and cracker co-products.
Infrastructure materials
Energy and cable materials
Borealis supplies polyolefin and semiconductive materials for extra-high-, high- and medium-voltage cables, data and communications cables, building wires and automotive cables. These materials are designed to provide electrical performance, insulation, processability, durability and, in selected applications, improved environmental characteristics through lightweighting and circular feedstock.
Infrastructure materials
Pipe and infrastructure materials
Borealis materials are used in water and gas distribution, wastewater and sewage systems, in-house plumbing, heating and oil and gas pipeline applications. The portfolio includes polyethylene systems, compounds and multilayer coating materials intended to balance long service life, toughness, corrosion resistance, installation efficiency and reliability in demanding infrastructure environments.
Mobility materials
Automotive polymer solutions
Borealis supplies polypropylene and related polymer compounds for vehicle exteriors, interiors and under-the-bonnet applications. Uses include bumpers, body panels, trims, dashboards, door claddings, climate-control components, cooling systems, air-intake manifolds and battery cases. The value proposition is based on weight reduction, design freedom, impact performance, dimensional stability and process efficiency compared with conventional materials.

Marketing campaigns

2025Support for harmonized regulation to end plastic pollution
Europe · Global
Borealis used its public-affairs and sustainability communications to support harmonized policy measures addressing plastic pollution, including design for recycling, recycled content, reuse and international cooperation.
Outcome. The initiative positioned Borealis as an industry participant in policy discussions around circular plastics and a global plastics treaty.
Source
2024Borealis 30th anniversary
Global
Borealis marked 30 years since its formation by highlighting its transformation from a Nordic petrochemical joint venture into an international polyolefins company with major operations in Europe and the Middle East.
Outcome. The anniversary campaign reinforced Borstar technology, global partnerships and circular economy innovation as the principal themes of the Borealis brand.
Source
2020EverMinds
Global
EverMinds was established as Borealis’ umbrella platform for circular plastics activity. It connected product innovation, recycling technology, design for circularity, partnerships and customer engagement under a common sustainability narrative.
Outcome. The platform supported the development and promotion of Borcycle, Bornewables, Borvida and other circular product and technology initiatives.
Source
2017Project STOP
Indonesia · Southeast Asia · Emerging markets
Borealis and SYSTEMIQ launched Project STOP to help cities and communities build affordable, formal waste collection and management systems. The initiative focused on preventing plastic waste from leaking into the environment and oceans, while supporting local circular economy infrastructure and resource recovery.
Outcome. The initiative became a long-term social and environmental platform associated with waste-system transformation and circularity in emerging markets.
Source

Brand decisions

2026
Complete formation of Borouge InternationalM&A
Background
The previously agreed combination of Borealis and Borouge and acquisition of NOVA Chemicals received the required approvals and reached completion.
Action taken
Borouge Group International AG was formed and began operating under the Borouge International brand, with OMV and XRG as equal shareholders.
Aftermath
Borealis continued as an operating subsidiary and inherited business platform, while standalone Borealis corporate facts and reporting ceased to be updated after March 31, 2026.
Source
2025
Combine Borealis and Borouge and acquire NOVA ChemicalsM&A
Background
OMV and ADNOC sought to build a globally diversified polyolefins platform with stronger scale, technology coverage, feedstock access and geographic reach.
Action taken
The partners agreed to combine Borealis and Borouge and acquire NOVA Chemicals through a new group structure, initially called Borouge Group International.
Aftermath
The transaction completed in March 2026, creating Borouge International and moving Borealis from a standalone corporate group into a larger integrated platform.
Planned transaction value and platform scale. Borouge International was described as a platform with more than USD 60 billion implied enterprise value and approximately 13.6 million tonnes per year of polyolefin production capacity (2025-2026)
Source
2025
Change Borealis legal form from AG to GmbHOther
Background
The legal restructuring was undertaken in preparation for the formation of Borouge Group International.
Action taken
Borealis changed its legal form from an Aktiengesellschaft to a Gesellschaft mit beschränkter Haftung effective June 13, 2025.
Aftermath
The new form aligned the company with the planned ownership and integration structure.
Source
2024
Acquire Integra PlasticsM&A
Background
Borealis needed additional mechanical recycling capacity to increase the supply of recycled polyolefins.
Action taken
Borealis completed the acquisition of Integra Plastics AD in Bulgaria.
Aftermath
The acquisition increased the group’s ability to process post-consumer waste into recycled polyolefin materials.
Source
2024
Expand the OMV–TOMRA Feedstock recycling partnershipStrategy
Background
Mixed post-consumer waste streams require sorting and complementary mechanical and chemical recycling technologies.
Action taken
Borealis, OMV and TOMRA Feedstock agreed to a long-term expanded partnership to sort and process mixed waste into circular products.
Aftermath
The partnership linked feedstock sorting with Borealis mechanical recycling and OMV chemical recycling capabilities.
Source
2023
Sell the nitrogen business to AgrofertM&A
Background
Borealis aimed to sharpen its portfolio around polyolefins, base chemicals and circular material solutions.
Action taken
The company sold its fertilizer, melamine and technical nitrogen operations to Agrofert in July 2023.
Aftermath
The divestment reduced the scope of Borealis’ historical chemicals portfolio and made polyolefins and circularity more central to its strategy.
Source
2023
Acquire Rialti and invest in RenasciM&A
Background
Borealis sought to expand mechanical and chemical recycling capacity and provide recycled materials for demanding applications.
Action taken
Borealis acquired Italian recycled polypropylene compounder Rialti and took a majority stake in Belgian advanced recycling company Renasci.
Aftermath
The transactions expanded Borealis’ circular feedstock, recycled compound and advanced recycling capabilities.
Source
2018
Acquire EcoplastM&A
Background
Borealis sought additional European recycling assets and access to post-consumer polyethylene waste streams.
Action taken
Borealis acquired all shares in Ecoplast Kunststoffrecycling GmbH in Austria.
Aftermath
The transaction strengthened Borealis’ recycled LDPE and HDPE portfolio and its ability to serve flexible packaging and other applications.
Source
2017
Launch Project STOPStrategy
Background
Plastic leakage and inadequate waste management in emerging markets created environmental and social risks that could not be addressed through polymer technology alone.
Action taken
Borealis launched Project STOP together with SYSTEMIQ to help establish formal waste collection and circular waste systems.
Aftermath
Project STOP became a major social-impact component of Borealis’ circular economy program.
Source
2016
Acquire mtm Plastics and mtm CompactM&A
Background
Borealis wanted to expand beyond virgin polymer production and build a stronger position in post-consumer polyolefin recycling.
Action taken
The company acquired the German recycling businesses mtm Plastics and mtm Compact.
Aftermath
The acquisitions added capacity to process mixed post-consumer plastic waste into recycled polyolefin materials for injection molding and extrusion.
Source

Showing the 10 most recent.

Recent events

2026
Borealis completes combination with Borouge and NOVA Chemicals under Borouge International[8]OMV and XRG complete transactions to create Borouge Internationalomv.com
M&A
Borealis became part of Borouge International following the completion of the combination of Borealis and Borouge and the acquisition of NOVA Chemicals. The new group operates as a global polyolefins platform.
2026
Borealis is now Borouge International[20]北欧化工现已成为博禄国际borealisgroup.com
M&A · Leadership change
Borealis announced that its standalone corporate identity had been integrated into Borouge International, while European production, innovation and customer operations continued within the new group.
2025
Borealis reports circular breakthroughs from 2024[21]北欧化工公布2024年循环经济突破borealisgroup.com
Product launch · Other
Borealis reported that circular production capacity rose to 227,900 metric tons in 2024 and circular feedstock processed reached 221,200 metric tons. New product introductions included Bornewables, Borcycle C and Borcycle M grades.
2025
OMV and ADNOC announce plan to create Borouge Group International[4]Borealis Standalone Annual Report 2025borealisgroup.com
M&A
OMV and ADNOC agreed to combine their Borealis and Borouge interests and acquire NOVA Chemicals, with the aim of creating a major global polyolefins company.
2025
Borealis reports €566 million net profit for 2024[3]Borealis Group Annual Report 2024borealisgroup.com
Other
Borealis reported a 2024 net profit of €565.543 million, compared with €158.978 million in 2023. Net sales were approximately €7.85 billion.
2024
Stefan Doboczky appointed Borealis CEO[2]Borealis 2024 Group Management Reportborealisgroup.com
Leadership change
The Borealis Supervisory Board appointed Stefan Doboczky as chief executive effective July 1, 2024, succeeding Thomas Gangl.
2024
Borealis acquires Integra Plastics in Bulgaria[2]Borealis 2024 Group Management Reportborealisgroup.com
M&A · Product launch
Borealis completed the acquisition of Integra Plastics, an advanced mechanical recycling company in Bulgaria, strengthening its supply of recycled polyolefin materials.
2024
Borealis expands partnership with OMV and TOMRA Feedstock[19]Expand the OMV–TOMRA Feedstock recycling partnershipborealisgroup.com
Other
The companies announced an expanded long-term partnership to sort mixed post-consumer waste and process it through complementary mechanical and chemical recycling routes.
2024
Borealis celebrates 30 years[17]Borealis 30th anniversaryborealisgroup.com
Campaign · Other
Borealis marked three decades since its formation from the petrochemical interests of Neste and Statoil and highlighted Borstar technology, global growth and circularity as pillars of its development.
2023
Borealis completes sale of its nitrogen business[14]Nitrogen business is soldborealisgroup.com
M&A
Borealis sold its nitrogen business, including fertilizers, melamine and technical nitrogen products, to Agrofert, narrowing its portfolio toward polyolefins, base chemicals and circular solutions.

Showing the 10 most recent.

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