Cheonan, South Korea – Borealis AG is acquiring “a controlling stake” in South Korean compounder DYM Solution Co. Ltd, the Vienna-based company announced 29 Oct.
Speaking to ERJ, a Borealis spokesman declined to comment on the financial size of the deal or Borealis’ shares in the Cheonan-based compounder.
Founded in 1992, DYM supplies the global wire & cable industry, specialising in semi-conductive, halogen-free flame retardant (HFFR), rubber and silane cured compounds, which Borealis said were complementary products and technologies to its portfolio.
Borealis did not disclose further details about DYM’s size of operation but the spokesman said it had three production sites around Cheonan, an hour away from Seoul.
The business will mark Borealis’ first compounding venture in Asia and will aim to serve the company's wire & cable customers in the region.
“With this investment, Borealis seeks to extend the global wire & cable asset footprint it has together with Borouge,” said the company’s statement.
“Having access to an Asian manufacturing base would significantly expand our ability to… meet the requirements of our wire and cable customers even better,” noted Borealis chief executive Alfred Stern.