Borealis announced that it has successfully acquired a controlling stake in DYM Solution Co. Ltd., a Korean composite material manufacturer. This acquisition consolidates Borealis’ position as the preferred partner of global wire and cable customers and helps meet the growing needs and requirements of wires and cables. The cable industry of today and tomorrow.
DYM Solution Co. Ltd. was established in 1992 and headquartered in Cheonan, South Korea. It is a composite solution provider for the global wire and cable industry. It specializes in semi-conductive, halogen-free flame retardants (HFFR), rubber and silane cured compounds.
Through this investment, Borealis has expanded its global coverage of wire and cable assets, thus embodying its mission of "fully realizing energy". Borealis will use complementary products and technologies of semiconductors, flame retardants, rubber and silane crosslinkable compounds to expand its broad and complex product portfolio.
This acquisition enables Borealis and Borouge to better serve customers in the following ways:
· Increase capacity immediately to further ensure product supply;
· Geographically expand the asset coverage and supply base to provide more local services in the region;
· Based on Borealis’ extensive and complete product portfolio and DYM’s complementary products and technologies, thereby increasing its services to the market; and
· Improve complete system products to better meet the growing market demand and extend the service life.
The energy sector provides growth opportunities
The decarbonization of the energy sector is creating huge growth opportunities for the global wire and cable industry. Borealis and Borouge will continue to strive to provide customers around the world with the most complete products to achieve energy transition. The acquisition of DYM will complement our products to better serve our customers. "Borealis Polyolefins, said Lucrèce Foufopoulos, executive vice president of innovation and circular economy. Solutions.
"We regard Borealis as a reliable and strong partner with an excellent track record in innovation and customer service. We are very pleased with the successful completion of the transaction. We look forward to our joint activities in the future and have already identified the transaction belt. In other words, this transaction will enable DYM Solution to ensure a world-class composite production method and significantly expand its capabilities through continuous organic cooperation with Borealis, and provide far beyond wire and cable Services required by industry customers. Therefore, the combination of DYM solutions and Borealis has the potential to better serve global wire and cable customers." said Mr. Park, CEO and founder of DYM solutions.