Domo Acquires Solvay’s Polyamides Business
Deal Includes the Production of Adipic Acid
Domo Chemicals and Solvay have signed an agreement for Domo to acquire Solvay’s Performance Polyamides Business in Europe. This includes Engineering Plastics operations in France and Poland; High Performance Fibers in France; Polymer and Intermediates operations in France, Spain and Poland. 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 a combined headcount of 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 to be paid by Domo on a cash and debt-free basis would amount to EUR 300 million.
The acquisition of the PA6.6 business will significantly strengthen Domo Chemicals’ downstream nylon based engineering plastics business. The result is a backward integrated business with unique technology capabilities and a secured supply of key raw materials. According to the company, there will be a strong focus on driving combined innovation, whilst accelerating future growth. Through the acquisition Domo Chemicals turn over will grow from EUR 900 mio to EUR 1600 mio.
About Domo Chemicals
Domo Chemicals is a producer of engineering materials for a diverse range of markets, including the automotive, food, medical, pharmaceutical, chemicals and electronics industries. The company offers a complete portfolio of integrated nylon 6 products, including intermediates, resins, engineering plastics and packaging film and distribution of petrochemical products. Headquartered in Belgium, the family-owned company generated 2018 sales over EUR 900 million and employs approximately 1100 employees worldwide.
Solvay Advanced Polymers
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