08 April 2013 17:47 [Source: ICIS news]
LONDON (ICIS)--Belgium-headquartered caprolactam and nylon 6 company Domo Chemicals has entered into an agreement to acquire Italy-based Aquafil’s engineering plastics business unit, the companies said on Monday.
Financial details of the potential deal were not disclosed.
Aquafil’s business unit has a global presence in Europe, the US and Asia with an annual turnover of more than €100m ($130m), employing 120 people worldwide.
The considered transaction is part of Domo Chemicals’ strategy to expand the global footprint of its forward integrated engineering plastics activities, the companies said.
Aquafil intends to use the resources generated by the possible sale to further focus on and grow its fibre activities and strengthen its position as a "sustainable" manufacturer, they added.
($1 = €0.77)
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