Germany's DOMO Chemicals, a major player in the production of high-quality engineering materials has announced that it has completed the acquisition of Belgian chemical firm, Solvay’s Performance Polyamides Business in Europe.
DOMO Chemicals
Photo: DOMO Chemicals
The transaction covers a range of Solvay's operations including Engineering Plastics operations in France and Poland; High Performance Fibers in France; Polymer and Intermediates operations in France, Spain and Poland. It also covers production, sales, R&D, technical support and innovation services in France, Spain, Poland, Germany, and Italy which have a total of 1,100 employees.
The acquisition 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.”
"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,” he continued.
“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," Bonte concluded.
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