Solvay completes divestment of its performance polyamides business
Canadian Plastics
MaterialsThe businesses are being purchased by BASF and Domo Chemicals.
Image Credit: Solvay
Belgium-based chemical maker Solvay has formally completed the divestment of its performance polyamides activities to BASF and Domo Chemicals.
The divestment represents the last step in the transaction agreed between Solvay and BASF, for which the European Commission required to divest certain of Solvay’s performance polyamides assets to a third party.
The assets acquired by the third party, Domo Chemicals, include Solvay’s performance polyamides production sites at Belle-Etoile and Valence in France, as well as a stake in a newly-created joint venture between BASF and Domo in Chalampé, France.
They also involve production sites in Gorzow, Poland; Blanes, Spain; and commercial activities in Germany and Italy.
BASF will acquire all the performance polyamides activities of Solvay that are not acquired by Domo Chemicals and that are part of the original agreement between Solvay and BASF, which was signed at the end of 2017.
“This acquisition is a significant milestone on our path to strengthen Domo Chemicals’ nylon-based engineering materials business,” Domo’s CEO Yves Bonte said in a Jan. 31 statement. “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”.
