By: Richard Higgs
EUROPEAN PLASTICS NEWS
July 9, 2014
Belgian nylon producer Domo Chemicals has boosted its integrated product portfolio with the purchase of Italian specialty films maker CFP Flexible Packaging for an undisclosed sum.
CFP of Cesano Maderno near Milan, a specialist producer of nylon 6 film, biaxially oriented polyamide (BOPA) and PET films for food and healthcare packaging, operates two Italian plants at Ceriano Laghetto and Cesano Maderno.
The Italian company, a leading BOPA film producer in Europe with a 100-strong workforce and sales last year of 50 million euros ($68 million), was sold by London-based private equity firm Bridgepoint Capital. It acquired CFP in 2002 for 120 million euros ($163 million) from the Italian diversified industrial group SNIA SpA.
CFP recently announced a plan to invest nearly 38 million euros ($51.7 million) to construct a BOPA films plant in Krakow, Poland by the end of 2018. Bridgepoint described CFP as Europe’s lowest cost specialty films producer and nylon films market leader.
Domo Chemicals, an integrated global group manufacturing nylon intermediates, including caprolactam, as well as nylon 6 resins and engineering plastics, already ran two plants in Germany, one in Italy and one each in China and the U.S.
“With the acquisition of CFP Flexible Packaging ... we are strengthening our nylon 6 value chain and growing our portfolio of innovative products and services,” Domo commented after the announced takeover.
At Leuna in Germany, Domo has a nylon intermediates and nylon resins plant, while the firm produces engineering plastic nylon and polypropylene compounds on sites at Premnitz, Germany; Arco in Italy; Jiaxing in Zheijiang province, China and at Cartersville, Ga.
Ghent, Belgium-based Domo, part of the holding company Domo Investment Group, has an annual sales of 900 million euros ($1.2 billion) and employs an 825-strong workforce.