BOREALIS: Arbitration closure - Update on the Status of the New European PDH Project

IREM Group considers appropriate to provide all its clients, workers, and stakeholders with an update on the status of the New European PDH project that sparked many controversies when the contracts IREM Group was part of were terminated in August 2022. Both parties have agreed to settle the dispute.

Borealis Kallo (the client) has always operated on the basis of the highest ethical standards and with the utmost care for the compliance with labour and social laws and regulations. IREM entirely shares these standards and values, therefore understands that Borealis Kallo was compelled to terminate the contracts with IREM Group as soon as an investigation was started in relation to possible violations of labour and social law.

IREM Group can only confirm not to have committed any of the rumoured violations mentioned by the Belgian media and has always actively collaborated with the Belgian authorities in view of explaining its position and clearing its reputation.

IREM has always strived to provide its workers with the best possible working conditions and has among its foundational values the respect of the rights of workers, their dignity and wellbeing. These commitments and values remain intact to this day.

IREM Group is today happy to announce that both parties have agreed to settle the dispute. The settlement allows both parties to close the arbitration and move forward.