Borealis’ nitrogen and melamine division, which also plays a major role in Linz at the chemical park, has been sold. After a Russian lost in the war, a much better offer came from a neighboring country to Austria.
After the sale of Borealis’ nitrogen division – including the chemical park in Linz – to a Russian failed in mid-March, Agrofert, based in the Czech Republic, has now made a binding offer to buy. And at 810 million euros, that is higher than the 455 million euros that came from EuroChem, which is majority-owned by Russian Andrei Melnichenko.
At Borealis it is believed official approvals for the deal will come this year and of course the employees are yet to be heard. The purchaser Agrofert is active in several European countries in the chemical, agricultural and food sector, has 31,000 employees and a turnover of 7.5 billion euros.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
