Leading polyolefins producer Borealis has announced that it has signed an agreement to buy out Dupont's 67% stake in its Speciality Polymers Antwerp joint venture. Speciality Polymers Antwerp N.V. was established in 2000 at an existing Borealis plant in Zwijndrecht, Belgium, to manufacture high-pressure copolymers. Under the proposed arrangement, DuPont will continue to serve the market with ethylene vinyl acetate (EVA) and acrylate copolymers produced at the Speciality Polymers Antwerp facility.
"The acquisition of the full ownership of Speciality Polymers Antwerp is in line with our strategy to grow our polyolefin business in specific market areas", says Mark Garrett, CEO of Borealis. "Acrylate copolymers, which are part of a broader portfolio of specialty polymers produced at Speciality Polymers Antwerp, are an important building block for our value-added products sold into our core Energy & Infrastructure market."