BOREALIS TO SELL GMT BUSINESS

Borealis, Europe's largest and the world's fourth largest producer of polyolefin plastics, and Symalit, a subsidiary of the Quadrant Group, have signed an agreement in which Borealis will sell its GMT (Glass Mat reinforced Thermoplastics) business to Symalit.

Due to lack of compatibility with its long term strategy, Borealis will stop the production of GMT at its compounding unit in Linz, Austria in the course of the cooperation. Borealis is committed to supporting employees whose jobs will be affected by the agreements.

For more information, contact Walter Baumann, Borealis A/S, Lyngby Hovedgade 96, DK-2800 Lyngby, Ph: 45 45 96 61 85, FAX 45 45 96 61 89, Web: www.borealisgroup.com.