LONDON, Jan. 11, 2017 /PRNewswire/ -- Based on its recent analysis of polyolefins in the healthcare industry, Frost & Sullivan recognizes Borealis with the 2016 European Award for Growth Excellence Leadership. Borealis has set itself apart in the conservative European market by offering high-quality polyolefins through constant innovation. Its dedicated portfolio of polyethylene and polypropylene products under the Bormed™ brand as well as its outstanding technical service have enabled it to outpace the overall market in revenue growth and gain over 20% of the total European market.
In 2013, Borealis launched Bormed SB815MO under the umbrella of its polypropylene products specifically for healthcare packaging. The novel, soft product presents exceptional transparency without requiring clarifiers. For pharmaceutical packaging in particular, the use of Bormed SB815MO allows the final packaging to be sterilised at 121°C and in half the time taken by non-polypropylene materials (low-density polyethylene) with similar flexibility and stiffness.
"In the challenging healthcare market, Borealis keeps discovering new ways of customising services for its customers with a focus on value creation through innovation," said Alfred Stern, Borealis Executive Vice President Polyolefins and Innovation. "Borealis offers global presence, serving key European markets such as Germany, France, Italy, the United Kingdom and Benelux. It also supplies healthcare customers in North America, South America, and Africa, and has been able to export to the Middle East, Asia-Pacific, and India through Borouge, our joint venture with the Abu Dhabi National Oil Company (ADNOC)."
Borealis has earned a leadership position in the market because of its Bormed products and the superiority of its customer service and engagement. Its dedicated and expert healthcare team ensures that it understands market changes and customer needs throughout the supply chain by attending conferences and trade shows and being part of associations such as the MedPharmPlast Europe.
"Borealis' Bormed portfolio has found wide application across medical devices, pharmaceuticals, and diagnostic packaging," said Frost & Sullivan Consulting Analyst Dr. Antonella Lisella-Wright. "The company enjoys high brand equity all over the world. Overall, it has demonstrated a keen focus on growth in the polyolefins market by fostering brand loyalty, competing effectively and carving out a unique, sustainable market position."
Each year, Frost & Sullivan bestows this award upon the company that demonstrates excellence in growth and customer value. It recognises the superiority of the product/service as well as the overall customer, purchase, ownership, and service experience offered, which has resulted in the recipient company seeing above-market growth and greater share of wallet. The award lauds the growth, diversification, and sustainability strategies of the company.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, the company currently has around 6,500 employees and operates in over 120 countries. Borealis generated EUR 7.7 billion in sales revenue and a net profit of EUR 988 million in 2015. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, the remaining 36% belonging to OMV, an international, integrated oil and gas company based in Vienna. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
Building on its proprietary Borstar® and Borlink™ technologies and more than 50 years of experience in polyolefins, Borealis and Borouge support key industries with a wide range of applications in the areas of energy, automotive, pipes, consumer products, healthcare, and advanced packaging.
The Borouge 3 plant expansion made Borouge the world's largest integrated polyolefins complex. Now fully ramped up, the additional 2.5 million tonnes of polyolefins capacity yield a total Borouge capacity of 4.5 million tonnes, and a combined Borealis and Borouge capacity of 8 million tonnes.
Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene, propylene, butadiene and pygas, servicing a wide range of industries. Borealis also creates real value for the agricultural industry, selling approximately 5 million tonnes of fertilizers. Technical nitrogen and melamine products complement the portfolio with applications ranging from mono-nitrogen oxide (NOx) abatement to glues and laminates in the wood working industry.
Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and work to solve the world's water and sanitation challenges through product innovation and their Water for the World™ programme.
Virginia Mesicek, External Communications Manager
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SOURCE Frost & Sullivan