BASF, a German chemical company, and Domo Chemicals, a provider of chemical products, completed the acquisition of Solvay Polyamides business for $1.76bn. Domo Chemicals acquired Solvay's performance polyamides production sites at Belle-Etoile and Valence, as well as a stake in a newly-created joint venture between BASF and Domo in Chalampé, France. BASF acquired all the Performance Polyamides activities of Solvay that are not acquired by Domo Chemicals. "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," Yves Bonte, DOMO Chemicals CEO.