Domo Chemicals agrees to acquire Solvay’s performance polyamides business in Europe. The deal includes engineering plastics operations in France and Poland; high performance fibers in France; and polymer and intermediates operations in France, Spain and Poland, according to Domo. The agreement also involves a joint venture between BASF and Domo in France for the production of adipic acid. The business comprises production, sales, technical support, R&D and innovation services, which currently have approximately 1100 employees. The acquisition, which is subject to approval by the competent competition authorities, is expected to close by the end of Q4 2019. The purchase price, on a cash and debt-free basis, will amount to €300 million, according to Domo.
“The strong reputation of the Technyl brand will perfectly complement Domo’s wide Domamid range of engineered and virgin polyamide resin grades and Econamid range of recycled polyamides,” says Alex Segers, CEO of Domo Chemicals, who calls the acquisition a major step forward. “We are looking forward to offering employees from both companies great opportunities for personal and career development.”
For more information, visit: www.domochemicals.com