Borealis successfully completes the acquisition of a controlling stake in South Korean compounder DYM Solution Co. Ltd
photo: DYM Solution Headquarter and Smart Factory
Borealis announces that it has successfully acquired a controlling stake in South Korean compounder DYM Solution Co. Ltd. The acquisition solidifies Borealis’ position as a partner of choice for global wire and cable customers, helping to meet the growing needs and requirements of the wire and cable industry today and in the future.
Based in Cheonan South Korea, DYM Solution Co. Ltd. was founded in 1992 and is a provider of compound solutions for the global wire and cable industry. It specialises in semi-conductive, halogen-free flame retardant (HFFR), rubber and silane cured compounds.
With this investment, Borealis extends its global wire & cable asset footprint, hereby embodying its mission of Bringing Energy All Around. Borealis will broaden its extensive and sophisticated portfolio, with complementary products and technologies for semi-conductive, flame retardant, rubber and silane cross-linkable compounds.
The acquisition enables Borealis and Borouge to better serve their customers by:
- offering an immediate capacity increase to further secure the product supply;
- geographically extending the asset footprint and supply base, enabling more local service in the region;
- building upon Borealis’ broad and sophisticated portfolio with DYM’s complementary products and technologies – thereby increasing the offering to the market; and
- improving the full system offering to better meet the growing market requirements for longer lifetime cables.
“Decarbonisation of the energy sector is creating substantial growth opportunities for the global wire and cable industry. Borealis and Borouge remain committed to assist our customers around the world with the most complete offering to enable this Energy transformation The DYM acquisition will complement our offering to better serve our clients,” says Lucrèce Foufopoulos, Borealis Executive Vice President Polyolefins, Innovation and Circular Economy Solutions.
“We see Borealis as a reliable and strong partner with an excellent track record for innovation and customer service and are very happy that the transaction has been successfully concluded. We look forward to our common future activities and have already identified potential future opportunities for growth enabled by the transaction. In other words, the deal will allow DYM Solution to secure a world-class method of compound production and to significantly expand its capabilities through continuous and organic cooperation with Borealis, and to provide services that far exceed customer requirements in the Wire and Cable industries. Therefore, the combination of DYM Solution and Borealis has the potential to serve the wire and cable customers around the world even better,” says DYM Solution Chief Executive and founder Mr. Park.
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For further information please contact:
Borealis:
Virginia Mesicek
Senior Manager a.i., External Communications
tel.: +43 1 22 400 772 (Vienna, Austria)
e-mail: virginia.mesicek@borealisgroup.com
DYM Solutions:
Isabelle Lee
Director, Hill+Knowlton Strategies
Tel.: +82 2 2287 0958 (Seoul, South Korea)
e-mail: isabelle.lee@hkstrategies.com
