Chemical supplier Borealis AG is buying DuPont Co.’s two-thirds share in their Specialty Polymers Antwerp N.V. joint venture.
The terms of the buyout have not been disclosed.
Speciality Polymers Antwerp N.V. is located in Zwijndrecht, Belgium. Under the terms of the deal, DuPont will be allowed to sell ethylene vinyl acetate (EVA) and acrylate copolymers produced at the facility.
"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", said Mark Garrett, chief executive of Vienna-based Borealis. "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 and infrastructure market."