Borouge International, benefiting from the capabilities of three leading polyolefins companies and their extensive global presence supported by long-term shareholders, marks a significant strategic move. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, ADNOC Group CEO, and Chairman of XRG, stated: 'The establishment of Borouge International is a strategic step that enhances XRG's goal to build a leading global chemical platform. By integrating Borouge, Borealis, and Nova Chemicals, we have created a global leader in polyolefins with advanced technology, a strong business model, and access to high-growth markets. We are confident that Borouge International is uniquely positioned to meet the growing global demand for advanced materials, support industrial growth, diversify the economy, and reinforce the UAE's trusted role in energy and chemicals.' Alfred Stern, CEO of OMV, added: 'Through our long-term partnership with ADNOC, we have successfully established Borouge International, a global leader in polyolefins. This step strengthens OMV's position as an integrated energy, fuels, and chemicals company and supports our strategic growth plans in the chemical sector.' Borouge International will be headquartered in Austria with a regional office in the UAE, managing operational centers across three continents and innovation hubs in five countries. The company aims for a robust profit margin, with annual synergies expected to exceed AED 1.8 billion. With a production capacity of 13.6 million tons per year, Borouge International is poised to become a global leader in polyolefins, supported by a strong executive team and favorable credit ratings. The new brand identity and slogan 'Basic Materials Powering World Progress' reflect its strategic priorities. ADNOC and OMV, as equal shareholders, are committed to maximizing value through integration and future growth plans.
