DOMO Chemicals and Solvay have signed an agreement for DOMO to acquire Solvay’s performance polyamides business in Europe for €300 million. According to DOMO, the purchase includes engineering plastics operations in France and Poland, high performance fibers in France, and 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.
DOMO says that this acquisition will strengthen Domo Chemicals’ nylon based engineering plastics business and increase its turnover from €900 million to €1,600 million.
‘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 Alex Segers, DOMO Chemicals CEO.
This story uses material from DOMO Chemicals, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.