In a move to boost its value creation through innovation strategy, Borealis announced a decision to develop its Innovation Centre in Linz, Austria into the centre of its international research activities. This is part of a broader agreement with the government of Upper Austria which will detail a package of measures and commitments by both parties resulting in a significant strengthening of Upper Austria as a plastics industry research hub in close cooperation with the Johannes Kepler University (JKU) of Linz.
Borealis will be increasing the number of employees at its Linz Innovation Centre by around 80 and investing 25-30 million Euros in facilities over the next five years. The Upper Austria government will contribute approximately 18.7 million Euros into a number of infrastructure changes to internationalise JKU and expand the international research capacity in Upper Austria by 2011.
Borealis intends to enhance the cooperation in future research projects with JKU, the Wels Advanced
Technical College, and other universities and polytechnical institutes in Austria. Borealis will also invest 6-7 million Euros in 2006 in new facilities and laboratories to create a single Innovation Centre building in Porvoo, Finland, to improve its effectiveness as the cornerstone of Borealis' international catalyst and process research activities. Borealis intends to merge its two remaining Innovation Centres - in Bamble, Norway and Stenungsund, Sweden - into one Scandinavian Innovation Centre. Plans are also underway to establish an Innovation Centre in Abu Dhabi as part of the continued growth of Borealis with Borouge, its joint venture with the Abu Dhabi National Oil Company (ADNOC), in the Middle East and Asia-Pacific market.