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New chair for Borealis

July 4, 2000, 12:30 CEST

Executive vice president Erling Øverland in Statoil took over as chair of the Borealis petrochemical group on 1 July.

He replaced former executive vice president Terje Vareberg, who has left the group.

Other directors of Copenhagen-based Borealis are Gerhard Roiss from Austrian oil company OMV, Mohamed Al Khaily from the International Petroleum Investment Company (IPIC) of Abu Dhabi, and Finn R Kulås, senior vice president for methanol in Statoil.

Owned 50 per cent by Statoil, Borealis ranks as one of the world's largest producers of polyolefin plastic raw materials.

The group has 5,400 employees and achieved revenues of EUR 3 billion last year.

OMV and the IPIC each own 25 per cent of Borealis