Borealis, headquartered in Vienna, Austria, a leading provider of innovative solutions in the fields of polyolefins, base chemicals, and fertilizers, has signed an agreement to take over a controlling stake in South Korean compounder DYM Solution Co. Ltd. The agreement and transaction are subject to regulatory approvals.
DYM Solution Co. Ltd., founded in 1992, based in Cheonan South Korea, is a provider of compound solutions for the global wire and cable industry. The company is a specialist in semi-conductive, halogen-free flame retardant (HFFR), rubber and silane cured compounds.
Making this investment, Borealis aims to expand the global Wire & Cable asset footprint together with Borouge. This initiative will enable Borealis to build upon an extensive and sophisticated portfolio, with complementary products and technologies for semi-conductive, flame retardant, rubber, and silane cured compounds.
Alfred Stern, CEO, Borealis, said, “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.”
In 2016, Borealis had sales revenue of EUR 7.2 billion and a net profit of EUR 1,107 million. Its holding company Mubadala owns 64% of the company; the balance 36% belongs to Austria-based OMV, an integrated, international oil, and gas company.