Borealis acquires full ownership Nova Chemicals’ interest in Novealis JV

Borealis acquires full ownership of Nova Chemicals' interest in Novealis JV

6:35 AM, 16th April 2020
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VIENNA, AUSTRIA: Borealis AG has completed the acquisition of Nova Chemicals’ 50 percent ownership interest in Novealis Holdings LLC (Novealis).

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 SA to launch Bayport Polymers LLC (Baystar) in Houston, Texas, US.

“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,” said Alfred Stern, Borealis CEO.

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