NEWS
Domo to acquire Solvay PA business as part of EU deal
Solvay, BASF and Domo Chemicals have reached agreement on the owner- ship of Solvay’s polyamide business that satisfies EU competition requirements. Under this, Domo will acquire Solvay’s Perfor- mance Polyamides Business in Europe, while BASF will acquire the global, non- European business. These transactions were initially prompted by the European Commission’s requirements for the approval of BASF’s agree- ment in September 2017 to acquire Solvay’s integrated PA business. They are all subject to regulatory approval and are expected to be closed by the end of 2019. The part being acquired by Domo, for about €300m on a cash and debt-free basis, includes engineering plastics operations in France and Poland, high perfor-
Above: Domo Chemicals’ polyamide facility in Leuna, Germany
mance fibres in France, and polymers and intermediates operations in France, Spain and Poland. Domo CEO Alex Segers called the acquisition “a major step forward” for the company. The acquisition will
increase Domo’s turnover from about €900m to €1.6bn per year, creating “a backward integrated business with unique technology capabilities and a secured supply of key raw
materials”. The company will have capabilities in both PA 6 and 66, adding the Technyl brand to its Dona- mid and Econamid ranges for the automotive, food, medical, pharmaceutical, chemicals and electronics industries, among others. The part being acquired by BASF for about €1.3bn, also on a cash and debt-free basis, includes eight production sites in Germa- ny, France, China, India,
South Korea, Brazil and Mexico, three R&D centres in South Korea, China and Brazil, and six technical consultation centres in Asia and the Americas. It also includes Solvay’s 50% share in Butachimie’s production of adipodinitrile (ADN) raw material. It will also enter into a joint venture in adipic acid with Domo in France, employing about 650. BASF is planning to
integrate the businesses into its Monomers and Performance Materials divisions. The company said that it will gain improved access to important growth markets in Asia and South America, enhance its product pipeline and gain backward integration into important raw materials like ADN, placing it along the entire PA 66 value chain. �
www.domochemicals.com �
www.solvay.com �
www.basf.com
Magna to build fifth auto plant in Ohio
Tier 1 automotive supplier Magna has held a ground- breaking ceremony at its new seat structure plant in Lancaster, Ohio, with dignitaries including US Vice- President Mike Pence in attendance. The 14,000 m2 facility, which involves an initial investment of about $60m, is being built after the company won new seating business in North America with a global OEM. The site is the company’s fifth in Ohio, where it
currently employs about 2,700 people, but the first dedicated seat structure plant in the US. It will feature robotic laser and MIG welding capabilities. The first seats will be supplied for a new plug-in hybrid vehicle. The plant is expected to be operational in Q1 2020. It will employ 300 and has scope for further expansion. �
www.magna.com
6 INJECTION WORLD | September 2019
Above: US Vice-President Mike Pence (fifth from right) attended the groundbreaking event
www.injectionworld.com
PHOTO: DOMO
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