Polyolefins manufacturer Borealis has completed its acquisition of Geleen, The Netherlands-based DEXPlastomers, a supplier of polyolefin-based plastomer materials.
Until now, DEXPlastomers had been a 50/50 joint venture ultimately owned by Royal DSM and ExxonMobil Chemical Company.
The terms of the deal have not been announced. Included in the transaction are approximately 100 employees who have transferred to the new owner upon closing.
"We are happy to welcome our new colleagues in Geleen to the Borealis Group and look forward to a successful integration," Borealis chief executive Mark Garrett said in a statement. "Both companies develop innovative solutions with added value for our customers; our products are complementary and will broaden our current product portfolio."
Borealis is also headquartered in Geleen.
Established in 1996, DEXPlastomers produces C8 plastomers and linear low density polyethylene.