DOMO Chemicals and Solvay have signed an agreement to acquire Solvay's high-performance polyamide business in Europe. The scope includes: the engineering plastics business in France and Poland; the high-performance manmade fiber business in France; and the polymer and intermediate products operated in France, Spain and Poland.
The business includes production, sales, technical support, research and development, and innovation services, and currently has approximately 1,100 employees. The acquisition is subject to approval by the competition authority and is expected to be completed by the end of the fourth quarter of 2019. The purchase price will reach 300 million euros and will be paid by DOMO Chemicals in cash and debt-free.
The acquisition of this leading PA 6.6 company will greatly strengthen Domo Chemical's downstream nylon engineering plastics business-and create a large European leader that will allow it to enter the market as a leader in PA6 / 6.6 across Europe.
The result: a backward integrated business with unique technological capabilities and a secure supply of key raw materials. Domo will focus on driving joint innovation while accelerating future growth. With this acquisition, Domo Chemical's total turnover will increase from 900 million euros to 1.6 billion euros.
Speaking of DOMO Chemicals, CEO Alex Segers described the acquisition as "an important step forward."
He explained:
"By integrating the complementary advantages of the different teams and talents of the two companies, we will drive sustainable growth in the future through the establishment of a unique and competitive integrated nylon solution provider (6 and 6.6), This enhances our outstanding performance for our customers. The good reputation of the Technyl® brand will perfectly complement the range of engineering and original grade polyamide resin products of the DOMO chemical company DOMAMID® brand and the ECONAMID® series of recycled polyamides. We look forward to two companies Of employees provide great opportunities for personal and professional development. "
DOMO CHEMICAL is a company capable of integrated nylon 6 production. The main products worldwide include nylon 6 intermediate products (caprolactam, cyclohexanone, phenol, acetone, etc.), nylon 6 resins, nylon 6 engineering plastics, chemical fertilizers. , Engineering plastics and nylon 6 packaging film.
This acquisition will significantly strengthen DOMO Chemical's downstream nylon engineering materials business-and create a European leader in scale