Headquartered in Vienna, Austria, Borealis is a leading supplier of innovative solutions in the field of polyolefin, basic chemicals and fertilizers. At this stage, it has signed an agreement to take over the controlling stake in Korea DYM Solutions Limited, pending regulatory approval. Founded in 1992 and headquartered in Tianan, Korea, DYM Solutions Co., Ltd. is a global supplier of composite solutions for the wire and cable industry. The company is a professional semi-conductive, halogen-free flame retardant, rubber and silane curing compounds. Borealis's investment aims to expand the global footprint of wire and cable assets.
This initiative will be based on a broad and complex product portfolio that provides complementary products and technologies for semiconductors, flame retardants, rubber and silane curing compounds. Borealis's chief executive, Alfred Stern, said: ' Entering the Asian manufacturing base will significantly improve our ability to continue to grow and enable us to better meet the needs of our rubber and plastic cable customers.
' Borealis's sales in northern Europe are 7.2 billion euros, with a net profit of € 1.107 billion.
Its holding company, Mubadala, owns 64% per cent of the company, while the remaining 36% belong to the Austrian OMV, a comprehensive international oil and gas company. Austrian group acquires controlling stake in Korea integrated cable company