London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Borealis completes acquisition of controlling stake in South Korean compounder DYM Solution

September 03/2020

MOSCOW (MRC) -- Borealis announces that it has successfully acquired a controlling stake in South Korean compounder DYM Solution Co. Ltd., as per the company's press release. 

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: offering an immediate capacity increase to further secure the product supply; geographically extending the asset footprint and supply base, enabling more local service in the region; building upon Borealis broad and sophisticated portfolio with DYMs complementary products and technologies - thereby increasing the offering to the market; and
improving the full system offering to better meet the growing market requirements for longer lifetime cables.

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 Lucrece 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.

As MRC informed earlier, Borealis has maintained its cracker in Stenungsund (Sweden) offline longer than initially anticipated, after it was shut following a force majeure declaration at the site on May 11, 2020. Sources said that the unit has been offline longer than initially expected with no confirmed startup date. The Stenungsund cracker has an ethylene capacity of 625,000 tonnes and a propylene capacity of 150,000 mt/year.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's DataScope report, PE imports to Russia dropped in January-June 2020 by 7% year on year to 328,000 tonnes. High density polyethylene (HDPE) accounted for the main decrease in imports. At the same time, PP imports into Russia rose in the first six months of 2020 by 21% year on year to 105,300 tonnes. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,500 and operates in over 120 countries.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, homopolymer PP, propylene, HDPE, ethylene, cable extrusion, compounding, petrochemistry, cable, Borealis, Austria, Russia, Sweden, South Korea.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe