Borealis, a provider of chemical and innovative plastics solutions, announced that it has reached an agreement to acquire the shares of DSM Plastomers B.V. and Exxon Chemical Holland Ventures B.V., each holding a 50% interest in DEXPlastomers V.O.F. in Geleen, The Netherlands, from DSM Nederland B.V. and ExxonMobil Benelux Holdings B.V. DEXPlastomers is a 50/50 Joint Venture ultimately owned by Royal DSM and ExxonMobil Chemical Company.
Following this agreement, the relevant employee representatives are being informed and consulted on the proposed sale to Borealis. The transaction is subject to customary approvals and notifications.
The products of DEXPlastomers are specialties complementary to Borealis’ current innovative plastic solutions. The agreement made with ExxonMobil Benelux Holdings B.V. and DSM Nederland B.V. underpins Borealis’ commitment to its Value Creation through Innovation strategy, as Borealis believes there is significant potential in DEXPlastomers’ technology.