Borealis, a leading provider of chemical and innovative plastics solutions, announced today that it has reached an agreement to acquire the shares of DSM Plastomers B.V. and Exxon Chemical Holland Ventures B.V., each holding a 50% interest in DEXPlastomers V.O.F. in Geleen, The Netherlands, from DSM Nederland B.V. and ExxonMobil Benelux Holdings B.V. DEXPlastomers is a 50/50 Joint Venture ultimately owned by Royal DSM and ExxonMobil Chemical Company.
Following this agreement, the relevant employee representatives are being informed and consulted on the proposed sale to Borealis. The transaction is subject to customary approvals and notifications.
The products of DEXPlastomers are specialties complementary to Borealis' current innovative plastic solutions. The agreement made with ExxonMobil Benelux Holdings B.V. and DSM Nederland B.V. underpins Borealis' commitment to its Value Creation through Innovation strategy, as Borealis believes there is significant potential in DEX-Plastomers’ technology.
About Royal DSM
Royal DSM (dsm.com) is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM’s 22,000 employees deliver annual net sales of around EUR 9 billion. The company is listed on NYSE Euronext.
Established in 1996, DEX Plastomers (dexplastomers.com) is a 50/50 Joint Venture between DSM Plastomers B.V. and Exxon Chemical Holland Ventures B.V., producing C8 plastomers and linear polyethylene. DSM’s LLDPE Compact Solution Technology was developed in the 1960’s to produce polyethylenes in a certain density range and is instrumental to the operations of DEX Plastomers.
Borealis is a leading provider of chemical and innovative plastics solutions that create value for society. With sales of EUR 7.1 billion in 2011, customers in over 120 countries, and around 5,300 employees worldwide, Borealis is owned 64% by the International Petroleum Investment Company (IPIC) of Abu Dhabi and 36% by OMV, the leading energy group in the European growth belt. Borealis is headquartered in Vienna, Austria, and has production locations, innovation centres and customer service centres across Europe and the Americas.
Through Borouge, a joint venture between Borealis and the Abu Dhabi National Oil Company (ADNOC), one of the world’s major oil and gas companies, the company’s footprint reaches out to the Middle East, Asia Pacific, the Indian sub-continent and Africa. Established in 1998, Borouge employs approximately 1,700 people, has customers in more than 50 countries and is headquarters are in Abu Dhabi in the UAE and Singapore. Building on Borealis’ unique Borstar® and Borlink™ technologies and their more than 50 years experience in polyolefins, Borealis and Borouge provide innovative, value creating plastics solutions for the infrastructure (pipe systems and power and communication cables), automotive and advanced packaging markets. In addition, Borealis offers a wide range of base chemicals from melamine and fertilizer to phenol and acetone. Today, Borealis and Borouge have a manufacturing capacity of over 5.4 million tonnes of polyolefins (polyethylene and polypropylene) per year having recently completed a 1.5 million tonne capacity expansion in Abu Dhabi. The Borouge 3 plant expansion will be completed at the end of 2013 with a further capacity of 2.5 million tonnes per year (t/y) being fully operational in mid-2014. The companies continue to invest to ensure that their customers throughout the value chain and across the globe can always rely on product quality, consistency and security of supply.
Borouge and Borealis are committed to the principles of Responsible Care® and proactively contribute to addressing the world’s water and sanitation challenges through their Water for the World™ initiative.
For more information visit borealisgroup.com | borouge.com | waterfortheworld.net
Borstar is a registered trademark of the Borealis group.
Borlink and Water for the World are trademarks of the Borealis group.