Borealis buys controlling stake in South Korean cable compounder
The purchase of Cheonan, South Korea-based DYM Solution is intended to expand Borealis' Asian manufacturing base.
Polyolefins producer Borealis AG is buying a controlling stake in South Korean compounder DYM Solution Co. Ltd.
The terms of the deal have not been disclosed.
Based in Cheonan, South Korea, DYM Solution was founded in 1992 and is a provider of compound solutions for the global wire and cable industry. It specializes in semi-conductive, halogen-free flame retardant (HFFR), rubber and silane cured compounds.
“With this investment, Borealis seeks to extend its global wire & cable asset footprint it has together with Abu Dhabi-based affiliate Borouge,” Borealis said in a statement. “Having access to an Asian manufacturing base would significantly expand our ability to foster continuing organic growth for Borealis and Borouge and enable us to meet the requirements of our wire and cable customers even better.”
Borealis is one of Europe’s largest producers of polyethylene and polypropylene and is headquartered in Vienna, Austria.