Domo Chemicals to acquire Polyamide assets of Solvay for €300m.

Domo Chemicals, a producer of engineering materials for a diverse range of markets, agreed to acquire Polyamide assets of Solvay, a Belgian chemical company, for €300m ($332m). The assets needed to be divested to a third party as part of the European Commission’s merger control clearance process of BASF’s acquisition of Solvay’s polyamide business. “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. The strong reputation of the Technyl® brand will perfectly complement DOMO’s wide DOMAMID® range of engineered and virgin polyamide resin grades and ECONAMID® range of recycled polyamides. We are looking forward to offering employees from both companies great opportunities for personal and career development,” Alex Segers, DOMO Chemicals CEO.