MOSCOW (MRC) -- Domo Chemicals acquires US based engineering plastics specialist Technical Polymers, LLC., said the company in its press release.
Closing took place on 30 June 2015. The financial details of the transaction are not disclosed.
The company mainly supplies the US Automotive, Agriculture, Oil & Gas, E&E and Sporting Goods market, and has extensive knowledge of the engineering plastics industry, plastic part design, tooling and processing. Technical Polymers has at date a turnover of 35 million USD.
The integration of the strong Technical Polymers team, with a longstanding and broad experience in the formulation and development of thermoplastic compounds, complements the Domo Chemicals organization. Together with the recent decision to invest in a state-of-the-art nylon compounding plant in China this acquisition significantly enhances the global supply capabilities of the Business Unit Engineering Plastics with operations in Germany, Italy, China and US (Georgia).
Alex Segers, CEO of Domo Chemicals, says "Gary Foote and Ron Kay, co-founders of Technical Polymers, have built a unique business with a diverse portfolio of Nylon products and a range of high performance polymers. This acquisition, integrating a great team of people, perfectly fits into our strategy to grow our innovative capabilities and globally strengthen the business and service level to our customers."
As per MRC, Technical Polymers announced a new partnership with Belsul of Porto Alegre to distribute our products in Brazil.
Domo Chemicals is a leading highly integrated Caprolactam/nylon6 company serving a global and broad customer base with high quality products in the field of nylon intermediates (Phenol, Cyclohexanone, Caprolactam), nylon 6 polymers, engineering plastics, fertilizers, nylon 6 packaging film and distribution of petrochemical products. Domo Chemicals, based in Leuna, Germany, achieved a turnover of 1 billion dollars in 2014 and employs 850 people. Domo Chemicals is a privately owned company and part of Domo Investment Group.