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DOMO has announced to acquire Solvay’s Performance Polyamides Business in Europe.
DOMO has announced to acquire Solvay’s Performance Polyamides Business in Europe.

DOMO Chemicals and Solvay recently signed an agreement for DOMO to acquire Solvay’s Performance Polyamides Business in Europe. It 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.

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 leading PA 6.6 business will significantly strengthen Domo Chemicals’ downstream nylon based engineering plastics business - and create a European leader with scale, entering the market with a top position in PA6/6.6 in Europe. Through the acquisition, Domo Chemicals’ turnover will grow from €900 million to €1,600 million.

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.”

BASF to acquire Solvay’s non-European PA6.6 business

At the same time, BASF will acquire the global, non-European PA6.6 business from Solvay including its 50% share in Butachimie’s adipodinitrile (ADN) production according to the agreement signed in September 2017.

Subject to the approval of the transaction between DOMO and Solvay and final approval of the relevant competition authorities, the transaction between BASF and Solvay is also targeted to close by the end of 2019.

The purchase price to be paid by BASF on a cash and debt-free basis would amount to €1.3 billion. Solvay’s businesses to be acquired by BASF generated sales of around €1.0 billion in 2018.

BASF is planning to integrate the businesses into its Monomers and Performance Materials divisions. The intended acquisition by BASF now comprises a total of eight production sites in Germany, France, China, India, South Korea, Brazil and Mexico.

Through the backward integration into important raw materials such as adipodinitrile (ADN), BASF will be present along the entire value chain for polyamide 6.6 and be able to further increase the capacities to produce polymers.

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