OMV and ADNOC Merge Chemical Businesses
OMV and ADNOC finished a merger of their chemical businesses. This created a new company called Borouge. Borouge will be a large producer of plastics.
The merger involved OMV, an Austrian company, and ADNOC, a company from the United Arab Emirates. The two companies’ chemical divisions joined together. The new company is called Borouge Group International AG. It will make many different chemical products. The headquarters of Borouge are in Vienna, Austria.
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Highlights
Major Chemical Merger Complete
OMV and ADNOC finished merging their chemical divisions.
Borouge is the New Company
The merger created a new company called Borouge.
Large Global Player Created
The combined companies are a major player globally.
Focus on Petrochemicals
The new company will produce and market chemical products.
Headquarters in Vienna Located
Borouge’s headquarters will be in Vienna, Austria.