Domo is reportedly active in the manufacturing and marketing of polypropylene. It owns a polypropylene manufacturing facility in the Netherlands with a manufacturing capacity of 180,000 tons per annum.
Domo’s revenues for the full year of 2006 and for the nine month period ending September 30, 2007, totaled approximately E176 million and E154 million, respectively. Domo’s net income for the said periods totaled approximately E1 million and E6.3 million, respectively.
Oil Refineries Limited (ORL) noted that completion of the transaction is subject to the approval of the relevant antitrust authorities as well as the receipt of an environmental report with respect to the condition of the ground on which the Domo plant is situated.
This acquisition is reportedly in line with ORL’s strategy to expand its businesses, including petrochemicals, while identifying among others expansion opportunities abroad.
