BASF has Closed Acquisition of Solvay's Nylon 66 Business
Through the backward integration into key raw material ADN, BASF is now present along the entire nylon 66 value chain.
BASF (U.S. office in Florham Park, N.J.) has closed the acquisition of the nylon 66 business from Solvay (U.S. office in Alpharetta, Ga.). The transaction broadens BASF’s nylon capabilities with innovative and well-known products such as the Technyl brand, allowing the company to support its customers with more engineering plastics solutions for such growing areas as autonomous driving and e-mobility in North and South America, and Asia. (Solvay has retained its MXD6 and PPA resins.)
The agreement between the two companies signed in 2017, had called for the acquisition of Solvay’s global nylon business, subject to the approval of the relevant antitrust authorities. The E.U. Commission approved the acquisition of the nylon business, subject to certain conditions, on January 18, 2019. These conditions required the sale of parts of the original transaction scope to a third party, specifically Solvay’s production plants and innovation competencies in the engineering plastics field in Europe. As recently reported, Domo Chemicals (U.S. office in Buford, Ga.), approved by the E.U. Commission as the buyer, completed its acquisition of Solvay’s nylon 66 business in Europe.
BASF’s completed acquisition includes eight production sites in Germany, France, China, India, South Korea, Brazil and Mexico as well as R&D centers and technical consultation centers in Asia, North and South America. In addition, it encompasses shares in two joint ventures in France: Solvay’s 50% share in the Butachimie JV with Invista to produce ADN and hexamethylenediamine (HMD) and a 51% share in the new Alsachimie JV between BASF and Domo Chemicals to produce adipic acid.
Through the backward integration into the key raw material adiponitrile (ADN), BASF will now be present along the entire value chain for nylon 66 and improve its supply reliability. The business is being integrated into the Performance Materials and Monomers divisions of BASF. Said Wayne T. Smith, member of the BASF’s board of executive directors, “With a broader portfolio, a stronger regional presence and improved supply reliability, BASF will deliver significant benefits to our customers. The acquisition stands for our strong commitment to the polyamide business globally.”
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