Borealis

Borealis was founded in 1994 by the merging of the petrochemical interests of Finnish Oil company Neste and the Norwegian oil company Statoil (now Equinor). Subsequently, OMV and IPIC took over the 50% business share of Neste after the former's petrochemical sector was included in 1998.

In June 2006, a year after Statoil relinquished its stake in the company, Borealis relocated its headquarters from Copenhagen to Vienna. After merging with Abu Dhabi's International Petroleum Investment Company (IPIC) in early 2017, Mubadala owned 64% of Boarealis through its holding company, while the remaining 36% belonging to Austria-based OMV, an integrated, international oil and gas company.

In April 2022, two years after it was reported that OMV held 75% of the shares and Mubadala the remaining 25%, ADNOC took over the latter stake. In July of the following year, the nitrogen business of Borealis, including fertilisers, melamine and technical nitrogen products, was sold to Agrofert.

In preparation for the formation of Borealis Group International, the firm's legal form was changed from an AG to a limited liability company (GmbH) in June 2025. Four months later, it was announced that Irth Solutions, a company backed by TPG Growth, had completed the purchase of Borealis.

Products

Polyolefins

The polyolefin products manufactured by Borealis form the basis of many plastics applications.

Consumer products

Borealis supplies superior polyolefin plastic materials used in consumer products, advanced packaging and fibre. More specifically, Borealis polyolefins are used to make applications possible in flexible packaging (including blown film, heat seal and extrusion coating), rigid packaging (caps and closures, bottles, thin wall packaging, thermoforming), non-woven and technical fibres, and appliances.

Automotive

Borealis supplies polyolefin plastic materials for engineering applications in the automotive industry. Plastic materials replace conventional materials such as metal, rubber and engineering polymers. In automotive vehicles, Borealis’ polyolefin plastic materials are used in a wide range of exterior, interior, and under-the-bonnet applications, including bumpers, body panels, trims, dashboards, door claddings, climate control and cooling systems, air intake manifolds and battery cases.

Energy

The company provides extra-high, high and medium voltage cable applications as well as semi-conductive products that are used for energy transmission and distribution, data and communication cables, and for building and automotive wires and cables.

mtm

In July 2016, Borealis acquired one of Europe's largest manufacturers of post-consumer polyolefin recyclates – mtm Plastics GmbH and mtm Compact GmbH.

mtm is able to process PO post-consumer plastic waste (also mixed and inferior) and converts around 70,000 tonnes of this raw material annually into recyclates. mtm uses mixed packaging, bulky household and industrial waste as raw materials.

mtm's recyclates are mainly used in injection moulding and extrusion processes. Typical applications: Containers and transport packaging, household goods, products for the building sector or lawn grids.

Ecoplast

In August 2018, Borealis announced the acquisition of 100% of the shares in Ecoplast Kunststoffrecycling GmbH, an Austrian plastics recycler. Based in Wildon, Austria, Ecoplast processes around 35,000 tonnes of post-consumer plastic waste from households and industrial consumers every year, turning them into LDPE and HDPE recyclates.