Borealis announces EUR 104 mln net profit for Q3

14-Nov-06

Borealis has announced improved profits for the third consecutive quarter and a EUR 64 million increase over Q3-2005. Sales revenue for the quarter was EUR 1,533 mln as against EUR 1,232 mln in Q3-2005. Net profit after tax for the quarter stood at EUR 104 mln, as against EUR 40 mln in the previous quarter. EUR 200 mln is to be invested in a 330,000 ton state-of-the-art Borstar® polypropylene (PP) plant in Burghausen, Germany, on track for completion at the end of 2007. Borouge, Borealis' joint venture in the Middle East, has announced the establishment of a new innovation centre in the United Arab Emirates. (Press release)