DOMO Chemicals completes the acquisition of Solvay’s Performance Polyamides Business in Europe
This Business includes Engineering Plastics operations in France and Poland; High Performance Fibers in France; Polymer and Intermediates operations in France, Spain and Poland. The Business comprises Production, Sales, Technical Support, R&D and Innovation services in France, Spain, Poland, Germany and Italy that currently have a combined headcount of approximately 1,100 employees. The agreement also involves a joint venture between BASF and DOMO in France for the production of Adipic Acid.
Yves Bonte, DOMO Chemicals CEO, says: "This acquisition is a significant milestone on our path to strengthen DOMO Chemicals’ nylon-based engineering materials business. It is an important step in delivering on our sustainable growth strategy by combining and leveraging on the unique technology, development and design capabilities of our combined teams to become a major global service provider to our customers in our key markets Transportation, Electrical & Electronics and Consumer goods.”
Mr. Bonte added: "As a final step in the acquisition, we will now start our process of exploring and integrating the complementary strengths of the diverse teams and talents. Our prime focus will continue to be serving our customers’ needs and meeting their requirements as we set out to become a unique integrated Nylon (6 and 6.6) solution provider”.
“New and existing customers of both Domo Chemicals and the acquired Business will now be able to access even more high quality, innovative and sustainable solutions for their development of processes, products and applications in the ongoing very dynamic market environment”, summarizes Mr. Bonte.
DOMO Chemicals is a leading producer of high-quality engineering nylon 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 and 66 products, including intermediates, resins, engineering plastics, performance fibres, packaging film and distribution of petrochemical products. Headquartered in Germany, the family-owned company leverages advanced technology and consumer insights to deliver sustainable & innovative solutions. DOMO generated 2019 sales over EUR 900 million and employs in 2020 approximately 2200 employees worldwide.