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

Published: 25 April 2020 - 2 a.m.
By: Martin Menachery
Borealis and NOVA Chemicals Corporation 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 in Houston, Texas, USA.

“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.

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