Borealis

Petrochemicals & Plastics

Borealis dominates European polyolefins (plastics) through strategic ownership: OMV (75%) and Mubadala/Abu Dhabi (25%) provide patient capital and feedstock access that publicly-traded competitors lack. Founded in 1994 through Nordic petrochemical mergers, the company produces 8+ million tons annually of polyethylene and polypropylene - the plastics in everything from food packaging to automotive parts. This commodity business generates $10B+ revenue and 10%+ EBITDA through vertical integration: OMV's refineries provide naphtha feedstock, Borealis converts it to polymers, and long-term customer contracts (automotive OEMs, consumer goods companies) provide demand stability. Borealis proves that in petrochemicals, strategic ownership providing feedstock security and patient capital creates advantages that pure-play chemical companies can't replicate.

The Biology of Business

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