Borealis Acquires DEXPlastomers in Geleen
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announced today that it has acquired DEXPlastomers VOF in Geleen, The Netherlands, from DSM Nederland BV and ExxonMobil Benelux Holdings BV. Until today, DEXPlastomers was a 50/50 joint venture ultimately owned by Royal DSM and ExxonMobil Chemical Company. The site is located in the Chemelot industrial park, 50 kilometres away from the nearest Borealis site in Beringen, Belgium. Approximately 100 employees will be transferred to Borealis Plastomers 1 BV (formerly DSM Plastomers BV) and other Borealis group companies outside The Netherlands.
The products manufactured in Geleen are specialty products, complementary to Borealis’ current innovative plastic solutions. The acquisition underpins Borealis’ commitment to its Value Creation through Innovation strategy as Borealis believes there is significant potential for the complementary technology.
“We are happy to welcome our new colleagues in Geleen to the Borealis Group and look forward to a successful integration,” says Mark Garrett, Borealis Chief Executive. “Both companies develop innovative solutions with added value for our customers; our products are complementary and will broaden our current product portfolio.”
Borealis has started the integration of the new site and its activities, a process in which safety and business continuity are key, to ensure continued punctual supply to customers.
“Borealis’ focus on safe operations and business continuity is in line with our existing way of working,” comments Huug Bischoff, Managing Director of the acquired entity who will continue in his current position. “I am convinced our employees are looking forward and fully engaged to integrate in the Borealis Group to make this a successful journey.”
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. Borealis is headquartered in Vienna, Austria, and operates in over 120 countries with around 5,300 employees worldwide, generating EUR 7.5 billion in sales revenue in 2012. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, the remaining 36% is owned by OMV, the leading energy group in the European growth belt. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
Building on the unique Borstar® and BorlinkTM technologies and 50 years of experience in polyolefins, Borealis and Borouge support key industries including infrastructure, automotive and advanced packaging. The Borouge plant expansion in Abu Dhabi will be fully operational by mid-2014 with a total annual capacity of 4.5 million tonnes. After this Borealis and Borouge will have approximately 8 million tonnes of polyolefin capacity.
Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene and propylene servicing a wide range of industries. Together with Borouge the two companies will produce approximately 6 million tonnes of Base Chemicals in 2014.
Borealis also creates real value for the agricultural industry with a large portfolio of fertilizers. The company distributes approximately 2.1 million tonnes per year.
Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and contribute to solve the world’s water and sanitation challenges through product innovation and their Water for the WorldTM programme.
For more information visit:
Borlink and Water for the World are trademarks of the Borealis group.
Borstar is a registered trademark of the Borealis group.
This news content was configured by WebWire editorial staff. Linking is permitted.