Borealis has agreed to sell its business and operations in Castellanza, Italy, (AMI - Italy) to Borgo Olona, a group of investors well known in the region. The Castellanza plant, near Milan, has a production capacity of approximately 12,000 tpa of melamine resins and 3,000 tpa of additives. The acquired business will be renamed Chemisol Italia Srl. "The sale of these operations in Italy is in line with our plans to focus on our core products," explains Borealis Chief Executive Mark Garrett. "Our base chemical plants in Linz in Austria and Piesteritz in Germany are performing well and our expansion plans within the Chemical Industrial City - Chemaweyaat - in Abu Dhabi, are on track."
AMI Agrolinz Melamine International Italy, an affiliate of Borealis AG, manufactures a range of melamine based resins for various applications and additives for the woodwork industry and is being sold as a result of Borealis' intention to focus on its base chemicals portfolio of core products, namely melamine, plant nutrients, phenol and olefins from its European cracker operations.