MOSCOW (MRC) -- Borealis announces the appointment of Thomas Reutter as Vice President Product Asset Management and Supply Chain, effective 1 August 2021, as per the company's press release.
Thomas Reutter joins Borealis from Dow and brings extensive product asset management and supply chain experience. Since joining Dow in 2008, he has held various positions with increasing responsibilities in product management, supply chain management and sales in the Netherlands, Mexico and Switzerland. Most recently he has served as Senior Product Director for Linear Low Density Polyethylene (LLDPE), based in Switzerland.
"We warmly welcome Thomas Reutter to the Borealis Polyolefin Business”, comments Borealis EVP Lucrece Foufopoulos. “Thomas is a business savvy, experienced product asset leader, with exposure to different cultures & ways of working throughout his career. We look forward to bringing his skills and strong performance orientation to the Polyolefins business and Borealis group.”
As MRC reported earlier, the Supervisory Board of Borealis appointed Wolfram Krenn as Executive Vice President Base Chemicals & Operations and member of the Borealis Executive Board, effective 1 July 2021.
We remind that in April 2021, Borealis commenced a new project to secure an increased supply of chemically recycled feedstock for the production of more circular base chemicals and polyolefin-based products. A feasibility study for a chemical recycling unit to be established at the Borealis production location in Stenungsund, Sweden, is now underway.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High denisty polyethylene (HDPE) shipments decreased. At the same time, PP shipments to the Russian market were 607,8900 tonnes in January-May 2021, up by 33% year on year. Shipments of homopolymer PP and PP block copolymers increased, whereas deliveries of PP random copolymers decreased.
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,500 and operates in over 120 countries. In 2020, Borealis generated EUR 6.8 billion in sales revenue and a net profit of EUR 589 million. OMV, the Austria-based international oil and gas company, owns 75% of Borealis, while the remaining 25% is owned by a holding company of the Abu-Dhabi based Mubadala.