Borealis acquires full ownership of NOVA Chemicals’ interest in Novealis joint venture

Borealis and NOVA Chemicals have announced that Borealis has completed the acquisition of NOVA Chemicals’ 50 per cent 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 in Texas.

Alfred Stern, CEO of Borealis, said: “This acquisition supports our global growth ambitions. 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.”