Borealis announces that it has successfully acquired a controlling stake in South Korean compounder DYM Solution Co. Ltd. The acquisition solidifies Borealis’ position as a partner of choice for global wire and cable customers, helping to meet the growing needs and requirements of the wire and cable industry today and in the future.
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 extends its global wire & cable asset footprint, hereby embodying its mission of Bringing Energy All Around. Borealis will broaden its extensive and sophisticated portfolio, with complementary products and technologies for semi-conductive, flame retardant, rubber and silane cross-linkable compounds.
The acquisition enables Borealis and Borouge to better serve their customers by:
“Decarbonisation of the energy sector is creating substantial growth opportunities for the global wire and cable industry. Borealis and Borouge remain committed to assist our customers around the world with the most complete offering to enable this Energy transformation The DYM acquisition will complement our offering to better serve our clients,” says Lucrèce Foufopoulos, Borealis Executive Vice President Polyolefins, Innovation and Circular Economy Solutions.
“We see Borealis as a reliable and strong partner with an excellent track record for innovation and customer service and are very happy that the transaction has been successfully concluded. We look forward to our common future activities and have already identified potential future opportunities for growth enabled by the transaction. In other words, the deal will allow DYM Solution to secure a world-class method of compound production and to significantly expand its capabilities through continuous and organic cooperation with Borealis, and to provide services that far exceed customer requirements in the Wire and Cable industries. Therefore, the combination of DYM Solution and Borealis has the potential to serve the wire and cable customers around the world even better,” says DYM Solution Chief Executive and founder Mr. Park.
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For further information please contact:
Borealis:
Virginia Mesicek
Senior Manager a.i., External Communications
tel.: +43 1 22 400 772 (Vienna, Austria)
e-mail: virginia.mesicek@borealisgroup.com
DYM Solutions:
Isabelle Lee
Director, Hill+Knowlton Strategies
Tel.: +82 2 2287 0958 (Seoul, South Korea)
e-mail: isabelle.lee@hkstrategies.com
Borealis solutions bring energy all around
For over 50 years, Borealis has provided value-creating polyolefin compounds for the global energy industry. Because understanding project execution is critical to the success of ‘Power Projects’, Borealis provides unparalleled reliability with Assurance Delivered for submarine and land cable projects. In power transmission and distribution, Borealis satisfies the highest demands on performance and across a comprehensive portfolio for medium and low voltage cable applications, as well as high-performance polypropylene (PP) capacitor film solutions for the entire energy sector.
Extra-high, high voltage AC and DC, and medium voltage applications are powered by Borlink™ technology. While the Visico™ technology helps extend the lifetime of cable systems for low and medium voltage applications. To meet safety standards for industries and buildings sustainably, Borealis also offers a low smoke and zero halogen flame retardant system. Borealis compounds also help meet network provider’s requirements for communication cables, namely fibre optic, data, copper multipair and coaxial cables.
About Borealis
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). www.borealisgroup.com
About DYM Solution
Established in 1992, DYM Solution Co., Ltd is a manufacturer of compound materials for cables. Its broad portfolio includes semiconductive and halogen-free flame retardant compounds as well as crosslinkable rubber and silane compounds. With company headquarters near Seoul, South Korea, DYM Solution has three compounding sites across the country, including a cutting-edge “smart” automated factory and dedicated research and development facilities. DYM Solution became a member of the Borealis Group in July 2020. http://en.dymsolution.co.kr/index.htm
For more information visit:
www.borealisgroup.com
www.borealisbringsenergy.com
en.dymsolution.co.kr
www.stopoceanplastics.com
Borlink™ and Visico™ are trademarks of Borealis AG.
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