22-Jan-2003 - Borealis A/S

Borealis reorganises to accelerate innovation

Building on its strong track record for innovation, Borealis today announced intentions to reorganise its technical resources to increase further the pace of innovation.

Borealis' high-performance polyethylene and polypropylene products, proprietary Borstar® technology and technical competence are well recognised by customers, making Borealis one of Europe's leading polyolefins suppliers.

To reinforce the delivery of Borealis' strategy to create and deliver value to its customers, the company plans to initiate a geographic consolidation and to implement an enhanced innovation process to accelerate the time-to-market and ensure higher value output from the innovation pipeline.

The proposals will impact staffing at many of its European locations, and consultation with the affected groups will commence immediately. Overall, the plan envisages about 25% reduction of technical resources across the Group, while increasing the share of innovation-led business in the polyolefins portfolio.

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