DOMO Chemicals to Acquire Solvay's Nylon 66 Business in Europe
With the Technyl brand, DOMO will significantly boost its lead in the Eruopean nylon 6/66 business.
Belgium’s DOMO Chemicals has signed an agreement with Solvay (U.S. office in Alpharetta, Ga.) to acquire Solvay’s Performance Polyamides Business in Europe. This includes Technyl nylon 66 production operations in France and Poland; nylon 66 high-performance fibers in France; and polymer and intermediates operations in France, Poland and Spain.
Also included in the agreement is a joint venture between BASF and DOMO in France for the production of nylon intermediate adipic acid. The Performance Polyamides Business comprises production, sales, technical support, R&D and innovation services which currently have a combined headcount of approximately 1100 employees. Subject to approval by the competent competition authorities, the acquisition is expected to close by the end of fourth quarter.
DOMO, which offers a complete portfolio of integrated nylon 6 products, including intermediates, resins, engineering plastics and packaging film and distribution of petrochemical products, will essentially make its entry into the nylon 66 business. Moreover, its acquisition of a leading nylon 66 business will significantly strengthen its downstream nylon-based engineering plastics business in Europe, resulting in a backward integrated business with unique technology capabilities and a secured supply of key raw materials. DOMO views the strong reputation of the Technyl brand as a perfect complement to its wide range of Domamid engineered and virgin nylon 6 resin grades and Econamid range of recycled nylons..
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