Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,500 and operates in over 120 countries. It generated EUR 8.3 billion in sales revenue in 2014. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, with the remaining 36% owned by OMV, the leading energy group in the European growth belt. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care, an initiative to improve safety performance within the chemical industry, and contribute to solve the world's water and sanitation challenges through product innovation and their Water for the World programme.
- Grow PO business in Infrastructure, Automotive and Advanced Packaging.
- Expand Borouge to supply growth in the Middle East and Asia and leverage into Europe.
- Pursue operational excellence, considering safety at all times.
- Exceed in customer service with a focus on quality and reliable execution.
- Strengthen the European base and ensure cost competitiveness from feedstocks to customers.
- Drive productivity in Base Chemicals with a focus on growth in Fertilizers and strengthening the cracker asset base and business.
- Achieve a step change in innovation.
- Continue to develop cross-cultural organisational capabilities and a learning organisation.
- Outperform financially
11%+ average return on capital employed (ROCE) after tax, 40 – 60% debt to equity ratio.
- To be leaders in Health, Safety and the Environment
- To act as good neighbours wherever operating
- To do business according to high ethical standards
- Involve people and communicate in a straightforward way
- Work together – helping and developing each other
- 'One Company' mind-set – building on diversity
- Our customers' and owners' success is our business
- We win through commitment and innovation
- To deliver what is promised – and a little bit more
- To be fit, fast and flexible
- Create and capture opportunities
- Seek the smart and simple solutions
Borealis’ Value Creation through Innovation strategy sets it apart from other companies in the industry because it puts tremendous focus on the entire value chain. Borealis does not just make products, but rather has the ambition to look at the entire life cycle of how these products are processed, deployed, used and ultimately recovered.
Applying its Visioneering Philosophy, Borealis identifies and anticipates unmet market needs to consequently develop the corresponding solution. Through investing in our people and their expertise, in proprietary technologies such as Borstar® and the way we do R&D we unlock the materials' molecular properties and create tailor-made products.
Borealis believes that leveraging internal research and development together with external ideas, competences and resources in a structured way can provide better solutions to its customers’ needs and create value for society. By working with external partners throughout the value chain and establishing collaborations with academia, customers, suppliers, brand owners, Borealis is continuously pursuing new technologies and business opportunities through Open Innovation (OI).
Through collaboration efforts with universities around the world, Borealis aims to develop new technologies and solutions. The company also recognises the two most innovative research papers on polyolefins, olefins, base chemicals or fertilizers to engage young people in Borealis' mission of providing chemical and innovative plastics solutions with its Student Innovation Award.
As described below, Borealis is also applying all other aspects of Open Innovation in its innovation process. Please get in touch with your good ideas – Borealis is open for business.
Sustainable Innovation Leadership
Borealis has a well-established innovation project management process where customer needs, experts, processes and technologies are combined. Multidisciplinary project team representing R&D, business and production ensure efficient knowledge sharing; creates insights across boundaries and ultimately leads to timely achievement of our innovation goals.
As part of Borealis' overall growth strategy, Borealis is committed to spend a substantial part of our R&D and innovation resources in breakthrough research and development projects. The company believes that only in this way value-adding products can be developed that put Borealis and its customers at the forefront of their industry.