With the successful acquisition of a majority holding in South Korean compounder DYM Solution Co. Ltd. Borealis is extending its global wire & cable asset footprint, broadening its portfolio,with complementary products and technologies for semi-conductive, flame retardant, rubber and silane cross-linkable compounds.
“The DYM acquisition will complement our offering to better serve our clients,” explained Lucrèce Foufopoulos, Borealis Executive Vice President Polyolefins, Innovation and Circular Economy Solutions.
Borealis signed an agreement in October 2018 to acquire a controlling stake in the Cheonan, South Korea-based company in order to gain access to an Asian manufacturing base to bolster its position in the wire and cable industry. The company sees significant growth opportunities for the global wire and cable industry through the decarbonisation of the energy sector, and the present acquisition will enable the company to better meet the growing needs and requirements of the sector.
DYM Solution, founded in 1992, supplies compound solutions to the global wire and cable industry. It specialises in semi-conductive, halogen-free flame retardant (HFFR), rubber and silane cured compounds.
The deal will allow DYM Solution to secure ‘a world-class method of compound production and to significantly expand its capabilities through continuous and organic cooperation with Borealis’, said DYM Solution Chief Executive and founder Mr. Park.
“Therefore, the combination of DYM Solution and Borealis has the potential to serve the wire and cable customers around the world even better.”