Borealis, provider of polyolefins, base chemicals and fertilizers, has completed the acquisition of DuPont Holding Netherland shares of Speciality Polymers Antwerp.
Previously, Speciality Polymers Antwerp, was a joint venture between DuPont Holding Netherlands (67%), Borealis Polymers and Borealis Kallo N.V. (together 33%).
"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," said Mark Garrett, Borealis chief executive.
"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 and infrastructure market."
Under the new arrangement, DuPont will continue to serve the market with ethylene vinyl acetate (EVA) and acrylate copolymers and Borealis will supply DuPont with ethylene vinyl acetate (EVA) and acrylate copolymers from the Specialty Polymers Antwerp facility.
Borealis intends to fully integrate the new site and its employees into the Borealis organisation.