VIENNA, Sept 1 (Reuters) - Austria’s Borealis has bought out partner DuPont’s majority stake in a polymers joint venture in the Netherlands, Borealis said on Monday.
It gave no financial terms for the transaction, in which Borealis will buy DuPont’s 67 percent stake in Speciality Polymers Antwerp N.V.
“The acquisition of the full ownership of Speciality Polymers Antwerp is in line with our strategy to grow our polyolefin business in specific market areas”, Chief Executive Mark Garrett said in a statement.
Under the new arrangement, DuPont will continue to provide ethylene vinyl acetate and acrylate copolymers and Borealis will supply DuPont with ethylene vinyl acetate and acrylate copolymers from the Antwerp facility, it said. (Reporting by Michael Shields; Editing by Mark Potter)