Borealis has acquired a controlling stake in South Korean compounder DYM Solution Co. Ltd. The acquisition solidifies Borealis’ position as global supplier of wire and cable material solutions.
Based in Cheonan, DYM Solution was founded in 1992 and specializes in semi-conductive, halogen-free flame retardant (HFFR), rubber and silane cured compound grades.
With this investment, Borealis has extended its global wire and cable asset footprint and broadened its extensive portfolio with complementary products and technologies for semi-conductive, flame retardant, rubber and silane cross-linkable compounds.
The acquisition enables Borealis and Singapore-based subsidiary 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.
“Decarbonization 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.