Domo to get Solvay’s European nylon assets

BASF and Solvay have found a buyer for Solvay’s European nylon 6,6 business: the German nylon 6 producer Domo Chemicals, which will buy the assets for about $335 million, not including debt. The European Commission approved BASF’s $1.8 billion purchase of Solvay’s global nylon 6,6 business in January. But given that the nylon 6,6 industry is already concentrated, with only a handful of players, the EC demanded that the companies sell off the bulk of Solvay’s European nylon 6,6 assets. Included in the sale to Domo are polymer and intermediate operations in France, Spain, and Poland; engineering plastics plants in France and Poland; and a nylon fiber plant in France. BASF will also form a joint venture with Domo to produce the nylon 6,6 raw material adipic acid. Not included in the deal is Solvay’s interest in an adiponitrile joint venture with Invista in France. Back integrating into this nylon