Chemical
Borealis acquires full ownership of Nova Chemicals’ interest in Novealis JV
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 S.A. to launch Bayport Polymers LLC in Houston, Texas, US
- By ICN Bureau
| April 18, 2020
Borealis AG and Nova Chemicals Corporation have announced that Borealis has completed the acquisition of Nova Chemicals’ 50% ownership interest in Novealis Holdings LLC.
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 S.A. to launch Bayport Polymers LLC 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.”
Register Now to Attend Gujarat Chem & Petchem Conference 2025 on May 8-9th 2025, at Hyatt Place, Bharuch
Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2025 on June 18-19th 2025, The Leela Mumbai
