Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announces that it has signed an agreement to acquire a controlling stake in South Korean compounder DYM Solution Co. Ltd. The agreement and transaction are subject to all required regulatory approvals.
Based in Cheonan South Korea, DYM Solution Co. Ltd. was founded in 1992 and is a provider of compound solutions for the global wire and cable industry. It specialises in semi-conductive, halogen-free flame retardant (HFFR), rubber and silane cured compounds.
With this investment, Borealis seeks to extend the global Wire & Cable asset footprint it has together with Borouge, thereby embodying the mission of Bringing Energy All Around. Borealis will be able to build upon its extensive and sophisticated portfolio, with complementary products and technologies for semi-conductive, flame retardant, rubber and silane cured compounds.
“Having access to an Asian manufacturing base would significantly expand our ability to foster continuing organic growth for Borealis and Borouge and enable us to meet the requirements of our wire and cable customers even better,” says Borealis Chief Executive Alfred Stern.
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With its head office in Vienna, Austria, the company currently has around 6,600 employees and operates in over 120 countries. Borealis generated EUR 7.2 billion in sales revenue and a net profit of EUR 1,107 million in 2016. Mubadala, through its holding company, owns 64% of the company, with the remaining 36% belonging to Austria-based OMV, an integrated, international oil and gas company. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).