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Yesterday (February 10), Domo Chemical announced that it has completed the acquisition of Solvay's European high-performance polyamide business and announced that it has officially taken over the Technyl® brand
.
The acquired businesses include Solvay's engineering plastics business in France and Poland, the French high-performance fibers business, and the polymers and intermediates business in France, Spain and Poland
.
In addition, the well-received Technyl® brand will also take the lead in the European Economic Area and Switzerland to be taken over by DOMO Chemicals, becoming a new and important part of DOMO brand
.
This acquisition is undoubtedly an important milestone in strengthening DOMO Chemical's nylon engineered materials business
.
Currently, as the final step of the acquisition, DOMO Chemicals will begin to integrate the diverse teams and human resources of both parties to achieve complementary advantages
.
Last week, BASF announced the completion of the acquisition of Solvay's polyamide business, and now Domo also announced the completion of the acquisition of Solvay's European high-performance polyamide business.
So far, BASF and Domo have acquired Solvay's global PA66 The business is finally done!
Below, let us review the key points in the entire acquisition process
.
On September 19, 2017, BASF and Solvay signed an agreement on the sale of the Solvay PA business to BASF for a cash and debt-free purchase price of EUR 1.
6 billion
.
BASF and Solvay have signed an agreement on the sale of Solvay's PA business to BASF for a cash and debt-free purchase price of 1.
The European Commission has announced concerns that the merger could reduce competition in the supply of vital raw materials and intermediate products in the nylon production chain
.
In order to dispel the concerns of the European Commission, BASF proposed to abandon the acquisition of part of Solvay's European polyamide business, including: Solvay's intermediates and engineering plastics business innovation capabilities and manufacturing-related assets
.
In January 2019, the European Commission conditionally approved the acquisition, subject to the divestiture of Solvay's European PA production facilities from the scope of the original deal
.
Potential buyers of the assets could include South Korea's SK Innovation, China's Kingfa, and private equity group SK Capital, owner of chemical producer Ascend
.
.
Potential buyers of the assets could include South Korea's SK Innovation, China's Kingfa, and private equity group SK Capital, owner of chemical producer Ascend
.
On August 15, 2019, BASF (BASF), Solvay (Solvay) and Domo Chemicals (Domo Chemicals) reached an agreement, agreed by Domo Chemicals to acquire Solvay's European PA6.
6 business
.
The deal is scheduled to close by the end of 2019, but is still subject to approval by the relevant competition regulator
.
6 business by Domo Chemicals
.
The deal is scheduled to close by the end of 2019, but is still subject to approval by the relevant competition regulator
.
Now, BASF and Domo Chemical have finally completed the acquisition of Solvay 's global PA66 business !
BASF and Domo Chemical have finally completed the acquisition of Solvay 's global PA66 business !
