STREAMLINED TECHNOLOGY ORGANISATION GOES LIVE AT BOREALIS

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STREAMLINED TECHNOLOGY ORGANISATION GOES LIVE AT BOREALIS
23 May 2003 - Borealis A/S

Borealis' redesigned and market aligned technology organisation, consolidated around four Innovation Centres, will be effective 1 June 2003. The main objective of the reorganisation is to accelerate the pace of innovation.

An enhanced innovation process was implemented earlier this year. The concentration on a limited number of innovation projects at a time, and a new way of working will accelerate the time-to-market. Borealis' research and development activities, which for historic reasons were fragmented, have been aligned with product development and marketing. They are now consolidated around four Innovation Centres in Linz, Austria; Porvoo, Finland; Rønningen, Norway; and Stenungsund, Sweden.

• Engineering Applications (automotive and household appliances) in Linz
• Film & Fibre in Linz and Rønningen
• Moulding in Rønningen
• Pipe in Stenungsund
• Wire & Cable in Stenungsund
• Catalyst and Process Research in Porvoo

Following the January announcement of the plan to reorganise, Borealis has been through an intense process to design the new organisation and select people with consultation and involvement of the company's Corporate Co-operation Council and local works councils.

The redesigned technology organisation now has about 500 employees, down from approx. 600. The main people reductions are at Borealis' sites in Porvoo, Rønningen and Linz. The affected employees who will leave Borealis are being provided professional assistance. Borealis has also used the opportunity to transfer technical competencies to other areas beyond the technology organisation.

“Our redesigned organisation and innovation process will ensure a stronger alignment between market requirements and our technology development,' says David Rolph, Executive Vice President, Polyolefins. 'It will ensure we sustain our strong track record on innovation and technology, and increase the share of new high-performance, cost-effective and differentiated products in our polyolefins portfolio. New innovations will be based on our key technologies including Borealis' proprietary Borstar® polyethylene and polypropylene technology.”

Henry Sperle, Executive Vice President, Technology & Projects, says: 'I am pleased that we have managed to get our market aligned technology organisation in place. It will provide a strong platform for rapid introduction of an increased number of new innovations in line with our strategy to be a market leader in key segments. We have also increased our investment in long-term research.'

http://www.borealisgroup.com

About: Borealis A/S
Borealis is a leading provider of plastics solutions with more than 40 years of experience in polyethylene (PE) and polypropylene (PP). Borealis solutions are converted by its customers into everyday products such as food packaging, medical devices, diapers, pipes, automotive parts and power cables.

Borealis is owned 50% by the Norwegian oil company, Statoil, and 50% by IOB Holdings, owned equally by OMV, the Austrian oil and natural gas group, and by the International Petroleum Investment Company (IPIC) of Abu Dhabi.

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  • For May 2003
  • From Borealis A/S
  • For Polyolefins (polyethylene and polypropylene)