OMV and Borealis cooperation extended for 11 years

OMV and Borealis have decided to extend their successful cooperation by entering into an agreement for a further 11 years of cooperation covering the period from 2018 until 2028.  

The two companies have enjoyed a successful production partnership since 1998 at the sites in Schwechat (Lower Austria) and Burghausen (Bavaria). This cooperation is a key component of the petrochemical integration of OMV’s refineries.

According to Manfred Leitner, OMV Executive Board member responsible for Downstream, the extension of the agreements allows OMV to continue the success of its profitable partnership with Borealis. In addition, OMV and Borealis are playing a pivotal role in securing production and jobs in Schwechat and Burghausen.

Supplying monomers – ethylene and propylene – remains at the heart of the agreement. These are essential products for the plastics industry and are produced in the OMV refineries Schwechat and Burghausen. They are then processed in the Borealis plants to create polyethylene (PE) and polypropylene (PP). PE and PP are used in a wide range of everyday plastic products and also as high-performance plastics in the automotive and medical technology sectors – a field in which Borealis and its joint venture Borouge are the second-largest suppliers worldwide.

Borealis is owned by the International Petroleum Investment Company (IPIC) from Abu Dhabi (64%) and by OMV Aktiengesellschaft (36%).