Borealis AG has completed the acquisition of NOVA Chemicals’ 50 percent ownership interest in Novealis Holdings LLC joint venture.
Acquisition to Support Global Growth
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This acquisition supports our global growth ambitions,” said Alfred Stern, Borealis chief executive officer.
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.
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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,” added Stern.
Source: Borealis