Report: Domo to Pull out of Chemicals, Focus on Ca

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Report: Domo to Pull out of Chemicals, Focus on Ca
Ghent, Belgium, September 20, 2005-—According to a report in Chemical Week, Domo is planning to pull out of the chemical business to focus on the production of carpets. The company's chemicals and polymers business will generate sales of around EUR 600 M ($728 M) in 2005, or 60% of group total. The company’s chemical operations include a 180,000 tonnes/y PP plant at Rozenburg, the Netherlands, and a caprolactam complex at Leuna, Germany. There are also nylon-6 plants at Gent, Belgium, and at Leuna, and Premnitz, Germany. The chemicals and polymers business has 600 employees, just over 25% of Domo's total. Domo hopes to find a buyer in Dec 2005 and complete the deal in early 2006.