Borealis announced today the signing of an agreement with DuPont Holding Netherlands B.V. to purchase the company’s 67% shareholding in Speciality Polymers Antwerp N.V.
Borealis, a leading provider in the fields of polyolefins, base chemicals and fertilizers, announced today the signing of an agreement with DuPont Holding Netherlands B.V. to purchase the company's 67% shareholding in Speciality Polymers Antwerp N.V.
Speciality Polymers Antwerp N.V., located in Zwijndrecht (Antwerp, Belgium) is a joint venture between DuPont Holding Netherlands B.V. (67%), Borealis Polymers N.V. and Borealis Kallo N.V. (together 33%).
"The acquisition of the full ownership of Speciality Polymers Antwerp is in line with our strategy to grow our polyolefin business in specific market areas", says Mark Garrett, Borealis Chief Executive. "Acrylate copolymers, which are part of a broader portfolio of specialty polymers produced at Speciality Polymers Antwerp, are an important building block for our value-added products sold into our core Energy & Infrastructure market."
Under the proposed arrangement, DuPont will continue to serve the market with ethylene vinyl acetate (EVA) and acrylate copolymers produced at the Speciality Polymers Antwerp facility.
The transaction is subject to approval by the relevant competition authorities and will be presented to the employee representatives concerned.
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The Speciality Polymers Antwerp joint venture is within the Ethylene Copolymers (ECP) business unit of DuPont Packaging & Industrial Polymers (P&IP). DuPont Packaging & Industrial Polymers is a world-class manufacturer of high-performance resins and films for a variety of packaging and industrial applications. Its best-known ethylene copolymer products include DuPont™ Surlyn® resins for packaging and industrial applications, Appeel® lidding sealant resins, Bynel® coextrudable adhesives, Selar® PA amorphous polyamide barrier resins, Nucrel® acid copolymers, Elvax® EVA copolymers, Elvaloy®, Elvaloy® AC, Entira™ and Fusabond® modifiers, and Vamac® ethylene acrylic elastomers.
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. This year, Borealis already celebrates its 20th anniversary. With headquarters in Vienna, Austria, Borealis currently employs around 6,400 and operates in over 120 countries. It generated EUR 8.1 billion in sales revenue in 2013. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, with the remaining 36% owned by OMV, the leading energy group in the European growth belt. 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).
Building on its proprietary Borstar® and Borlink™ technologies and 50 years of experience in polyolefins, Borealis and Borouge support key industries including infrastructure, automotive and advanced packaging.
The Borouge 3 plant expansion in Abu Dhabi will be fully operational in 2014. Borouge 3 will deliver an additional 2.5 million tonnes of capacity when fully ramped up, bringing the total Borouge capacity to 4.5 million tonnes. Borealis and Borouge will then have approximately 8 million tonnes of polyolefin capacity.
Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene, propylene, butadiene and pygas, servicing a wide range of industries. Together with Borouge the two companies will produce approximately 6 million tonnes of Base Chemicals in 2014.
Borealis also creates real value for the agricultural industry with a large portfolio of fertilizers. The company distributes approximately 2.1 million tonnes per year. This volume will increase to more than 5 million tonnes by the end of 2014.
Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and contribute to solve the world's water and sanitation challenges through product innovation and their Water for the World™ programme.
For more information visit:
www.borealisgroup.com
www.borouge.com
www.waterfortheworld.net
Borstar is a registered trademark of the Borealis Group.
Borlink and Water for the World are trademarks of the Borealis Group.
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