Germany-based DOMO Chemicals GmbH has signed an agreement to acquire the Europe-based Performance Polyamides (PA) business of Belgium-based Solvay S.A. The deal includes engineering plastics operations in France and Poland, high-performance fiber operations in France, and polymer and intermediates operations in France, Spain and Poland. The agreement also involves a joint venture between Domo and BASF for adipic acid production. The 300 million euro acquisition, which is subject to approval by competition authorities, is expected to close by the end of Q4 2019. Domo reports the purchase will strengthen its nylon-based plastics engineering business, with turnover growing from 900 million euros to 1,600 million euros.
“By integrating the complementary strengths of the diverse teams and
talents of both companies, we will enhance our excellence towards our customers by building a unique and competitive integrated Nylon solution provider (6 and 6.6) driven by a strong innovation platform to push future sustainable growth,” said DOMO Chemicals CEO Alex Segers.