Latest news with #Borealis
The National
16-07-2025
- Business
- The National
Adnoc transfers stake in Austrian energy company OMV to XRG
Adnoc plans to transfer its 24.9 per cent stake in Austrian energy company OMV to its international investment entity XRG, as the Abu Dhabi company seeks to consolidate its global investments under the unit. 'Adnoc remains committed to its long-standing partnership with OMV through XRG and reaffirms its support for the company's continued growth,' it said on Wednesday. Adnoc had bought the stake in OMV from Mubadala Investment Company in December 2022. Through the investment in OMV, which held a 75 per cent stake in Austrian plastics maker Borealis, Adnoc increased its stakes in both Borealis and Borouge. In March this year, Adnoc and OMV agreed to terms of a binding agreement to merge their polyolefins business and create a $60 billion global entity. Under the framework agreement, the two companies said they will form a joint venture company, Borouge Group International (BGI), combining Adnoc's Borouge with OMV's Borealis unit. Adnoc has also signed a share purchase agreement with Nova Chemicals, a unit of Mubadala Investment Company, for the full acquisition of Nova. On completion of the Borouge and Borealis merger, the new entity will take ownership of Nova for $13.4 billion including debt, which will expand its footprint in North America. Adnoc is 'progressing with preparation for the proposed establishment of Borouge Group International, which is set to be a top-four global polyolefins producer', the company said on Wednesday. Following the deal, BGI is expected be the world's fourth-largest polyolefin producer, as measured by nameplate capacity, with a capacity of 13.6 million tonnes per annum. That includes the expected addition of 1.4 mtpa capacity from Borouge-4 by the end of next year, at a cost of about $7.5 billion. BGI will be headquartered and domiciled in Austria, with its regional headquarters in the UAE. The new entity, which will retain key corporate hubs in Calgary, Pittsburgh and Singapore, will be listed on the Abu Dhabi Securities Exchange. Under the terms of the agreement, Adnoc and OMV will hold equal stakes of 46.94 per cent in BGI. The remaining 6.12 per cent will be free float, subject to the UAE's Securities and Commodities Authority's approval. Adnoc's proposed 46.94 per cent shareholding in BGI is expected to be held by XRG upon completion of the transaction, subject to regulatory approvals, the company said on Wednesday. XRG was launched last year as a global lower-carbon energy and chemicals investment company, with an enterprise value exceeding $80 billion. The company has been actively scaling up its operations globally and plans to double its asset value over the next decade, capitalising on energy transition, artificial intelligence advances and the rise of emerging economies. XRG's chemicals platform aims to become a top-five global player, producing and delivering chemical and speciality products to meet a projected 70 per cent increase in global demand by 2050, Adnoc said last year. It is also investing in natural gas projects to meet growing demand for LNG. Last month, XRG made a $19 billion indicative offer to buy Australia's second-largest gas producer Santos. Under the proposal, a consortium led by XRG, including Abu Dhabi's sovereign wealth fund ADQ and global investment firm Carlyle, proposes to acquire 100 per cent of the ordinary shares in Santos.
Fibre2Fashion
26-06-2025
- Business
- Fibre2Fashion
Austria's Borealis, AnQore launch world's first circular acrylonitrile
Borealis has partnered with AnQore to support the shift to a circular and renewable value chain for acrylonitrile (ACN)—a chemical used in everyday products such as cars, electronics, and water treatment solutions. The collaboration centers on the supply of Borealis' Borvida B-propylene, a sustainable feedstock made from ISCC PLUS-certified non-food waste biomass. Chemically identical to conventional propylene, AnQore uses it as a building block for Econitrile-MB— the world's first sustainable, Mass-Balanced ACN. Borvida B-propylene is part of the broader Borvida portfolio of renewable and circular base chemicals. Offering the same properties and performance as conventional base chemicals, they have a lower carbon footprint and also support the shift away from fossil feedstocks. Renewable content is tracked through the value chain using a Chain of Custody model, based on the Mass Balance approach. This means circular content can be traced and verified from source to final product. Borealis has partnered with AnQore to produce the world's first circular, mass-balanced acrylonitrile (ACN) using Borvida B-propylene, a sustainable ISCC PLUS-certified feedstock. The initiative supports reduced carbon emissionsâ€'up to 90 per cent lower than conventional ACNâ€'without compromising performance, enabling more sustainable products across multiple industries. Econitrile-MB produced using Borvida B-propylene from Borealis and sustainable ammonia has been in production for several years, offering end users a broader of sustainable solutions. Econitrile gives producers of ABS, acrylamide, carbon fiber, acrylic fiber, nitrile rubber, surfactants, and many other advanced materials a way to boost the sustainability of their products. With a carbon footprint up to 90% lower per kilogram than regular acrylonitrile, Econitrile offers a significantly more sustainable alternative without compromising on performance at all. 'At AnQore, we're striving to make the value chains for our specialist chemicals more sustainable, and that starts with the raw materials,' says Sjoerd Zuidema, CEO of AnQore . 'We're proud that, thanks to our partnership with Borealis, we're able to offer the world's first circular, mass-balanced acrylonitrile, and support our customers in making more sustainable products.' This partnership shows how Borealis is putting its We4Customers strategy into action by enabling customers like AnQore to access high-quality circular materials, backed by a secure supply and the flexibility and support needed to respond to changing market needs and regulations. 'This partnership shows that by working together across the value chain, we can unlock the value of waste,' says Thomas Van De Velde, Borealis Senior Vice President Base Chemicals . 'With AnQore, we're developing innovative, high-performance solutions that support customers' sustainability goals and help them prepare for future sustainable transformation.' AnQore is a trusted European producer of acrylonitrile and other key chemical building blocks, based at the Chemelot Chemical Park in Geleen, the Netherlands. AnQore focuses on delivering safe, secure, and sustainable solutions that help its customers stay ahead, whether in water treatment, consumer goods, or high-performance applications like automotive and electronics. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (RM)
National Post
09-06-2025
- Politics
- National Post
Michael Higgins: Meeting our NATO target wasn't that hard after all
Article content In his speech, Carney enunciated what a decade of Liberal indifference has done to our military — only one of our four submarines is seaworthy and less than half of our maritime fleet and land vehicles are operational. Article content We have allowed our military to deteriorate despite repeatedly being asked to step up and play our part in the NATO alliance. In 2022, then NATO chief Jens Stoltenberg visited Canada in a bid to shame us into increasing defence funding and reminded Trudeau: 'The shortest path to North America for Russian missiles and bombers would be over the North Pole.' Article content 'We have been jolted awake by new threats,' said Carney. The threats are not new, but it is gratifying that the Liberals are now awake to them. Article content The government's new strategy to 'rebuild, reinvest and rearm' Canada's military has four pillars: investing in manpower and equipment; expanding and enhancing military capabilities; strengthening the defence industry; and diversifying defence partnerships. Article content 'We will invest in new submarines, aircraft, ships, armed vehicles and artillery, as well as new radar, drones and sensors to monitor the sea floor and the Arctic,' said Carney. Article content Other welcome initiatives from the prime minister included establishing Borealis, the Bureau of Research, Engineering and Advanced Leadership in Innovation and Science, to 'advance cutting-edge research in artificial intelligence, quantum computing and other frontier technologies essential to safeguarding our sovereignty'; diversifying our military suppliers by looking to Europe; and creating a new defence procurement agency to centralize decision-making. Article content Procurement has long been a thorn in the side of the military. Buying any military equipment can take decades because it often involves multiple departments. And, of course, political parties, depending on how they view military spending, can also add to the delay. Article content In an interview with the National Post last year, retiring Chief of the Defence Staff Wayne Eyre said, 'We are applying peacetime processes and peacetime mentalities to what could be considered a wartime or immediate pre-wartime security environment. Article content Article content 'So, what did we do in 1939? What did we do in 1914? We certainly didn't take 10 or 15 or 20 years to get capabilities in place, because the war would be over by that point. … We have to deliver and we have to deliver fast.' Article content It has taken a decade to get here, but Carney is to be applauded for the urgency with which he is acting; for reinvesting in our men and women in uniform; for rearming our military; and for finally meeting our NATO commitment. Article content But difficult decisions still lie ahead. In London on Monday, NATO Secretary General Mark Rutte said the organization needed a 'quantum leap' in new armaments as he warned Russia could be ready to use force against NATO within five years. Article content
Daily Mirror
03-06-2025
- Business
- Daily Mirror
Cruise passengers can get free drink packages on over 40 sailings in 2025
Fred Olsen cruise line has launched a huge summer sale and Brits can currently get free drinks packages on a host of sailings in 2025 including Northern Lights cruises Brits planning cruise holidays this year may want to check out Fred. Olsen's latest summer sale, as the cruise line is currently offering a tempting deal with drinks. Cruises already include plenty such as your food, accommodation and travel, but if you want drinks, these usually come at an extra cost on the majority of cruise lines. A drinks package can be a great way of being able to indulge in a tipple or two without having to worry about the size of your bill at the end of the holiday, but these also come at an extra cost. However, Fred. Olsen is currently offering free drinks packages on over 40 sailings in 2025. That will include a range of house beers, spirits, wines and soft drinks too. Holidaymakers who book by June 25, 2025, will be able to enjoy the free drinks, worth £24.99 per person per night (or if you're booking five-night cruises, worth £35.99 per person, per night). You can already book on the Fred Olsen website, and there's an impressive array of itineraries included whether you're hoping to make the most of the summer sun on a sailing to Spain, or have a bucket-list-worthy winter and go in search of the Northern Lights. There's more good news as the sailings are across all three of its ships - Bolette, Borealis and Balmoral - with a range of UK departure ports including Southampton, Dover, Portsmouth, Liverpool, Newcastle and Rosyth (Edinburgh). Whatever cruise itinerary you're eyeing up, according to one cruise insider there are six items you should always pack before heading to the ship. One top tip? Packing both a backpack for your onshore excursions, but also a smaller evening bag for around the ship so you can carry a few essentials whether heading to dinner, a show or even just enjoying a trip to the bar. A card holder is also another essential item, although if you book a package that includes your drinks, gratuities and service charges, then you may not need to think too much about additional costs throughout the holiday! Meanwhile, sun-seeking Brits may want to keep an eye out for itineraries featuring Cartagena in Spain, after the beautiful city was named the sunniest in Europe. The historic port city, which is a popular stop for cruise ships, boasts a plethora of gorgeous architecture, as well as impressive museums and an eye-catching Roman amphitheatre. Unsurprisingly, it's a firm favourite with history and culture fans as well the foodies who flock to the city to indulge in some of that mouthwatering Spanish food. (Tapas and wine, anyone?). The cruise hotspot is underrated, with most tourists opting for the likes of Alicante or Murcia instead, so one of the benefits of visiting is that it doesn't always have the huge crowds found in other spots in peak months (although on a shore day, you might find it a little busier because of the cruise crowds).
Fibre2Fashion
28-05-2025
- Automotive
- Fibre2Fashion
Borealis expands sustainable foam line in Germany
Borealis continues to invest in growth through sustainable solutions that are transforming the polymer industry. Its facility in Burghausen, Germany, is significantly expanding production capacity for an innovative polymer foam solution called Daploy High Melt Strength polypropylene (HMS PP). This investment—totaling over EUR 100 million—addresses growing global demand for recyclable, high-performance foam solutions. The new line, scheduled to start up in the second half of 2026, will triple Borealis' supply capability for fully recyclable HMS PP. This expansion enables the transition to more circular and recyclable material solutions for customers in the consumer products, automotive, and building and construction industries. Borealis is investing over €100 million (~$113.24 million) to triple production of Daploy HMS PP at its Burghausen site by 2026, addressing rising demand for recyclable, high-performance foam. Used in packaging, automotive, and construction, Daploy offers lightweight strength, reduces emissions, and supports circularity. The expansion underscores Borealis' focus on sustainable innovation. The development of Daploy HMS PP took place at Borealis' Innovation Headquarters in Linz. The new product provides exceptional foamability, lightweight properties, and mechanical strength—characteristics that support material efficiency and help cut both costs and CO2 emissions. It is suitable for use in monomaterial solutions, which are easily recyclable at end of life. By supporting the sustainability principles of Reduce, Reuse, and Recycle, Daploy HMS PP addresses the growing demand for recyclable solutions across multiple industry segments: The properties of Daploy HMS PP make it ideal for a wide range of consumer products applications, such as reusable coffee cups and food packaging. As a lightweight, recyclable material that supports reuse, it helps packaging producers meet the requirements of the EU Packaging and Packaging Waste Regulation (PPWR). In the automotive industry, Daploy is used for ultra-lightweight foamed interior and under-the-hood components. Typically 60-90% lighter than non-foamed alternatives, these components help improve fuel efficiency and reduce carbon emissions. It also enables zero-waste production as all production trim-offs can be easily recycled. In addition, Daploy makes it possible for these parts to be constructed from a single material, facilitating recycling at the end of the vehicle's life. In the building and construction sector, Daploy HMS PP is used to replace heavier materials in insulation and paneling applications. Its durability, strength, and heat resistance ensure excellent performance, while its lightweight properties and recyclability improve the sustainability of these components. The expansion is another example of Borealis' dedication to delivering innovative, high-quality products that advance sustainability, and reinforces its leadership in the PP market. 'In line with our We4Customers strategy, this investment creates value for customers by enabling them to design recyclable, foam-based products for a wide range of high-performance applications,' explains Craig Arnold, Borealis Executive Vice President Polyolefins, Circular Economy Solutions and Base Chemicals. 'By expanding production, we're ensuring a reliable supply of this advanced material to help our customers achieve their sustainability goals and deliver high-performance solutions. Visitors to K 2025 will have the opportunity to explore a range of Daploy HMS PP solutions at the Borealis and Borouge stand Hall 6, Stand A43, and discuss how these grades can help them meet their sustainability and performance goals. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
