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GELEEN, NETHERLANDS — Polyolefins producers Borealis has completed its acquisition of DEXPlastomers, a maker of polyolefin-based plastomer materials based in Geleen.
Borealis acquired the business from previous joint-venture owners DSM NV and ExxonMobil Chemical Co., which each held a 50 percent share. No terms were announced.
"We are happy to welcome our new colleagues in Geleen to the Borealis Group and look forward to a successful integration," said Borealis chief executive Mark Garrett in a statement. "Both companies develop innovative solutions with added value for our customers; our products are complementary and will broaden our current product portfolio."
DEXPlastomers has two product families in its portfolio. Its Exact metallocene plastomers are low density materials which bridge the gap between conventional polyolefins and elastomers, says DEXPlastomers. They are used in blends with polyolefins in flexible packaging, film, sheet and other applications.
The Stamylex range of products are octane linear low and high density polyethylenes, used in a variety of specialty film, molding and extrusion coating applications.
Borealis is transferring 100 DEXPlastomers' employees to Borealis and Borealis-owned companies, and has started integrating the new site.