Borealis buys controlling stake in South Korean compounder DYM Solution
The acquisition is designed to expand Borealis' global wire and cable asset footprint.
In a move that expands its global wire and cable asset footprint, resin supplier Borealis has acquired a controlling stake in South Korean compounder DYM Solution Co. Ltd.
The financial terms of the deal have not been disclosed.
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 specializes in semi-conductive, halogen-free flame retardant (HFFR), rubber and silane cured compounds.
In an Aug. 31 statement, Vienna, Austria-based Borealis said the acquisition enables it to offer an immediate capacity increase to further secure the product supply; geographically extend the asset footprint and supply base, enabling more local service in the region; and improve the full system offering to better meet the growing market requirements for longer lifetime cables.
“Decarbonization of the energy sector is creating substantial growth opportunities for the global wire and cable industry,” said Lucrèce Foufopoulos, Borealis executive vice president, polyolefins, innovation and circular economy solutions. “The DYM acquisition will complement our offering to better serve our clients.”