Leading European polyolefin producer Borealis A/S has sold its nonintegrated French compounding business, Borealis Compounds SAS, in a management buyout.
An executive team led by site manager Bernard Constant bought the 33 million-pound-per-year polyethylene, polypropylene and engineering plastics compounds plant at Cublize for undisclosed terms.
Lyngby, Denmark-based Borealis has agreed to purchase some compounds from the plant, which now is know as AD Majoris.
The plant's 60 employees will be employed by the new company.
Borealis will focus its compounding efforts in Europe on two integrated production sites, which are located in Belgium and Austria, according to Walter Baumann, vice president of Borealis' applications business unit. The company also plans to develop another plant in Monza Italy.