DEXPlastomers, based in The Netherlands, was a 50/50 JV of DSM an Exxon Chemical Holland ventures established in 1996, and the deal is expected to close in Q1 2013.
The firms two products are Exact, which are low density specialty polymers bridging the gap between conventional polyolefins and elastomers.
Stamylex grades are used in the seal layers in multilayer packaging of food and in moulding applications for screw caps for non-carbonated mineral water bottles.
Borealis said the products of DEXPlastomers are specialties complementary to their current innovative plastic solutions.
DSM said DEXPlastomers anticipates sales of €180m in 2012 and there are 95 DSM employees affected by the transaction.