Aquafil Group to sell Engineering Plastics business unit to Domo Chemicals

Aquafil and Domo Chemicals have reached an agreement whereby the two companies will enter into an exclusivity period, aimed at the sale of Aquafil’s Engineering Plastics business unit to Domo Chemicals. To date  the business unit has a global presence in Europe (Italy, Arco), US (Cartersville) and Asia (China, Jiaxing) with a turnover of approximately of 105 mil/euro and employs about  120 people worldwide.

By means of this transaction, Aquafil aims to focus on the fiber Industry, thus strengthening its global leading position as a “sustainable” manufacturer, thanks to the ECONYL ® Regeneration System.

Giulio Bonazzi, Chairman and CEO of Aquafil, stated that the Group intends to use the resources generated by the possible sale to invest in the strong development of the BCF (yarns for textile floorings) business in the high-growth markets in North American and the Asia-Pacific.

Alex Segers, CEO of Domo Chemicals, states that the considered transaction will strengthen the robustness of our integrated company and support our strategy to significantly enlarge the global footprint of our Engineering Plastics business to better serve our customers worldwide by integrating a well experienced team and state of the art engineering plastics unit.