Search

Business Deal Borealis Acquires Nova Chemicals’ Interest in Novealis

| Editor: Ahlam Rais

Novealis is a joint venture between affiliates of Borealis and Nova Chemicals. With this takeover, Borealis has acquired Nova Chemicals’ 50 % ownership interest in Novealis Holdings and aims to further increase its footprint in the North American market.

Related Companies

An aerial view of Bayport Polymers’ facility in the USA.
An aerial view of Bayport Polymers’ facility in the USA.
(Source: Total)

Austria – Borealis and Nova Chemicals Corporation have recently announced that Borealis has completed the acquisition of Nova Chemicals’ 50 % ownership interest in Novealis Holdings.

Formed in 2018, 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 to launch Bayport Polymers (Baystar) in Houston, Texas, US.

“This acquisition supports our global growth ambitions,” commented Alfred Stern, Borealis CEO. “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.”

Specialist Book „Heat Transfer Technique“The comprehensive standard work „Heat Transfer Technique“ offers not only a detailed and well-founded presentation of the basics of heat transfer technique, but also shows the latest state of the art and the latest regulations in the use of organic fluids. Thematically, the book is rounded off with an overview of property data of organic heat transfer fluids as well as many use cases from practical experience.

(ID:46511804)