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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

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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
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Virginia Wieser
Senior Manager, Corporate Communications, Brand & Reputation

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