Back to News

Borealis acquires full ownership of NOVA Chemicals’ interest in Novealis Joint Venture

photo: Bayport Polymers Baystar Aerial View

Borealis AG (“Borealis”) and NOVA Chemicals Corporation (“NOVA Chemicals”) today announced that Borealis has completed the acquisition of NOVA Chemicals’ 50% ownership interest in Novealis Holdings LLC (“Novealis”).

Formed in 2018, Novealis is the joint venture between affiliates of Borealis and NOVA Chemicals, which subsequently formed a 50/50 joint venture with an affiliate of Total S.A. to launch Bayport Polymers LLC (“Baystar”) in Houston, Texas, US.

“This acquisition supports our global growth ambitions,” commented Alfred Stern, Borealis CEO. “Acquiring NOVA Chemicals’ share in Novealis will allow us to further increase our footprint in North America, enabling us to better serve our customers in this region with our value-add Borstar®technology and its related products.”

END

For further information, please contact:

Virginia Mesicek
Senior Manager a.i., External Communications
tel.: +43 1 22 400 772 (Vienna, Austria)
e-mail: virginia.mesicek@borealisgroup.com

photo: Bayport Polymers Baystar Aerial View

Downloads
2020 04 15 Borealis acquires full ownership of NOVA Chemicals’ interest in Novealis Joint Venture_EN English, German
photo: Bayport Polymers Baystar Aerial View photo: © Total
photo: Borealis CEO Alfred Stern photo: © Borealis
Media Contact
Group Media desk
Virginia Wieser, Lena Lehner
+43 1 22 400 899 (Vienna, Austria)
media@borealisgroup.com

Latest News

Media Release – 29/11/2023

Borealis to acquire Integra Plastics AD, an advanced mechanical recycling player based in Bulgaria

Read more

Media Release – 02/11/2023

Borealis expands its mechanically recycled plastic compounding capacity with closing the acquisition of Rialti S.p.A.

Read more

Media Release – 03/06/2022

Borouge successfully lists on ADX in Abu Dhabi’s largest-ever IPO

Read more

Media Release – 04/02/2021

Borealis delivers solid financial result for 2020 in a volatile market environment

Read more

Media Release – 04/11/2020

Borealis delivers solid third quarter financial result in challenging yet improving market environment

Read more

News – 29/10/2020

OMV and Mubadala complete Borealis transaction

Read more

Media Release – 24/09/2020

Borealis receives European Investment Bank loan for development of circular economy solutions for plastics

Read more

Media Release – 06/08/2020

Borealis delivers positive second quarter financial result despite COVID-19 and a low oil price environment

Read more

Media Release – 19/05/2020

Borealis decision to discontinue world-scale polyethylene project in Kazakhstan

Read more