Oslo – Borealis has reappointed Mark Garrett as CEO effective through June 2019 – a decision that reflects “Borealis' commitment to stability and continuity following a recent period of transformation and growth,” the company said 27 Oct.
First appointed Borealis CEO in 2007, Garrett has guided the company’s transformation from a European organisation focussed on polyolefins to an international one supported by three separate profit centres: polyolefins, base chemical and fertilisers, as well as Borouge, its joint venture with the Abu Dhabi National Oil Co. (ADNOC).
Under his tenure, significant investments have been made in production facilities in Stenungsund and Linz, demonstrating commitment to long-term growth in European markets.
Garrett's leadership has also seen the company acquire major strategic assets in both polyolefins and fertilisers, including DEXPlastomers (now Borealis Plastomers), GPN (now Borealis Chimie), Rosier, Neochim AD, and others.
Once the Borouge 3 production facility in Abu Dhabi is fully operational in 2015, Borealis and Borouge will have joined the ranks of the top ten global polyolefin producers.
The €4.5 billion Borouge 3 investment is a major component of Borealis' strategic aim to expand from its European market base to other geographies in reach of growth and profits.
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