Borealis Fully Acquires Ethylene Copolymer Joint Venture
Specialty Polymers Antwerp N.V., the joint venture between Borealis and Dupont now fully owned by Borealis.
Austria’s Borealis (U.S. office in Port Murray, N.J.) has acquired the 67% shareholding in Specialty Polymers Antwerp, N.V. from its joint venture partner DuPont Holding Netherlands B.V.
The Specialty Polymers Antwerp joint venture is within the ethylene copolymer (ECP) business unit of DuPont Packaging & Industrial Polymers, Wilmington, Del., which produces a broad range of ethylene copolymers for a variety of packaging and industrial applications. Best known among DuPont’s ECPs are Surlyn resins for packaging and industrial applications, Appeel lidding sealant resins, Bynell coextudable adhesives, Selar PA amorphous nylon barrier resins, Nucrel acid copolymers, Elvax EVA copolymers, Elvaloy, Elvaloy AC, Entira and Fusabond modifiers, and Varmac ethylene acrylic elastomers.
Under the proposed agreement, which is subject to the relevant competition authorities and expected to be completed by year’s end, DuPont will continue to serve the market with EVA and acrylate copolymers produced at the Specialty Polymers Antwerp facility. Says Borealis CEO Mark Garrett, “The acquisition of the full ownership of Specialty Polymers Antwerp is in line with our strategy to grow our polyolefin business in specific market areas. Acrylate copolymers, which are a part of a broader portfolio of specialty polymers produced at Specialty Polymers Antwerp, are an important building block for our value-added products sold into our core Energy & Infrastructure market.”
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