Press conference at the 20th Chinaplas Exhibition in Shanghai, China on 27 April 2006
At a press conference at the 20th Chinaplas Exhibition in Shanghai, China on 27 April 2006, Borouge outlined its strategy of using innovation to drive customer solutions in value creating application areas.
Hosted by Hubert Puchner, Chief Executive, Borouge Pte Ltd, the company emphasised the strategic alignment of their operations and business growth plans with those of Borealis, one of its owners. Borouge and Borealis share Abu Dhabi based principal ownership, following the restructuring of Borealis’ shareholding in October 2005.
The announcement was set in the context of the growth of Asian economies, which has increased demand throughout the value chain, creating opportunities for value added product providers. As a result, Borealis has steadily grown its presence in China since the early 1980s, which was strengthened in 1998 with the creation of Borouge.
Borouge is now established as a leading value added supplier with a strong market position in value-adding specialist materials for applications such as water and gas distribution pipes, power and telecommunications cables, advanced packaging, healthcare and automotive.
Mr Puchner also discussed plans for Borouge 2, the major expansion of existing production facilities in Ruwais, Abu Dhabi, which will see the construction of the world largest olefins conversion unit and the tripling of production capacity based on Borstar® technology.
Mr. Puchner commented, "China is an extremely important element of our future. Demand here is mirroring the growth of the economy, not just for volume but for the kind of differentiated, specialist materials that we create. Our proprietary Borstar technology gives us the edge in providing customers with innovative solutions that make their businesses more successful. By providing the materials that make a difference to modern life, we are meeting our vision of 'Shaping the Future with Plastics'."
John Taylor, Chief Executive Officer, Borealis A/S and Deputy Chairman of Borouge added, "I am proud to be here in Shanghai to support Borouge in its continued growth path. The opportunity for us in China is not in the commodity market but in high end, differentiated grades that add value for our customers."