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 & 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 €300 million.
The acquisition of this PA 6.6 business will significantly strengthen Domo Chemicals’ downstream nylon based engineering plastics business. Through the acquisition Domo Chemicals Turn Over will grow from 900 mio € to 1,600 mio €.
Speaking for DOMO Chemicals, Alex Segers, CEO called the acquisition “a major step forward.” “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.
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. We are looking forward to offering employees from both companies great opportunities for personal and career development.”
Domo Caproleuna GmbH, subsidiary of DOMO Chemicals, celebrates in Leuna (Saxony-Anhalt, Germany) the successful start-up of a new Ammonium Sulfate storage facility (investment of 30 million euro) with a capacity of 80.000 tons in the presence of the Minister of Economic Affairs of Saxony-An ... more
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Lyon Research & Innovation Center (RIC Lyon) - Solvay’s biggest research site worldwide - hosts some 400 experts in organic, physical, polymer, and analytical chemistry, specialized in catalysis, material science, process safety, and chemical engineering. RIC Lyon is also a center of expert ... more
Within the Chemicals Sector, the business policy is defined and implemented by 8 business units. Worldwide, the Solvay presence, notably in terms of sales and marketing, is ensured through regional organisations like national offices, affiliates, subsidiaries, … as well as local agents in ... more
