Germany's BASF to take full control of Alsachimie joint venture
BASF and DOMO Chemicals have signed an agreement giving BASF the right to take over DOMO Chemicals' 49 per cent share of the Alsachimie joint venture, in which BASF currently holds 51 per cent. According to applicable laws, the intended transaction is subject to consultations with the relevant social bodies of Alsachimie, following which both companies would enter into a binding purchase agreement. Pending these consultations, BASF and DOMO Chemicals expect to close the transaction by mid-2025.
BASF will acquire DOMO Chemicals' 49 per cent stake in Alsachimie, gaining full ownership by mid-2025, pending social body consultations. The move boosts BASF's polyamide 6.6 operations in Chalampé, France, enhancing integration and supply reliability. Alsachimie, formed in 2020, makes key precursors like KA-oil and AH salt. DOMO will focus on tailored polyamide solutions in key sectors.
For BASF, the 100 per cent ownership of Alsachimie would be a strategic step to complement the company's strong footprint at the site in Chalampé, France, its European hub for polyamide (PA) 6.6 precursor production. As the sole owner of Alsachimie, BASF would be able to further strengthen its production setup and maximize backward integration into key raw materials in the PA 6.6 value chain.
'As a key supplier for polyamide 6.6 precursors, it is our priority to ensure the reliable supply in Europe,' said Dr. Stephan Kothrade, member of the Board of Executive Directors of BASF SE . 'By taking over the shares of our partner DOMO Chemicals, we are further strengthening our leading position and long-term commitment to the polyamide 6.6 value chain and paving the way for future growth with our customers in industries such as automotive and textiles.'
'For DOMO Chemicals, the intended transaction aligns with our strategy to continue to focus on delivering tailored polyamide solutions in the core segments automotive, consumer goods, industrial and electrical & electronics industries,' said Yves Bonte, CEO DOMO Chemicals.
Alsachimie was founded in February 2020 as a joint venture between BASF (51 per cent) and DOMO Chemicals (49 per cent). The company is located at the French-German border and produces essential precursors for polyamides, including KA-oil, adipic acid and hexamethylenediamine adipate (AH salt). Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
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