OMV and its Arab core shareholder ADNOC have finalized the long-negotiated merger of their chemical divisions, creating the new Borouge Group International AG, now one of the world's largest plastics producers and petrochemical conglomerates, with its headquarters in Vienna.

OMV and Adnoc have announced the appointment of a new management team for their joint plastics venture, Borouge Group International, with the fusion expected to be completed by the end of March.