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Archroma acquires global textile chemical business of BASF
01
Jul '15
Archroma, a producer of speciality textile chemicals has acquired the global textile chemicals business of Germany based BASF.

“The acquisition further solidifies Archroma’s position as a clear industry leader in supplying chemicals and dyes to the global textile industry,” Archroma said in a press release.

This is the second strategic transaction by Archroma following its takeover of the textile business of Clariant in 2013 and also acquiring a stake in the textile dyes and chemicals manufacturer M. Dohmen.

The BASF business delivers products and technologies across the entire textile chemicals spectrum, with particular strengths in printing, finishing and coating chemicals.

The acquisition, according to Archroma, strategically complements its product portfolio and geographical presence that will now include BASF’s strong market positions in Asia and several other high-growth markets.

“The combined textile chemicals businesses will continue their history of maintaining a strong commitment to innovation and sustainability,” it added.

“The textile industry is undergoing transformational change resulting from macro supply and demand shifts as well as a growing customer demand for sustainably-oriented solutions” said Alexander Wessels, CEO of Archroma.

He added, “The operational and intellectual synergies between BASF and Archroma will allow us to offer the full breadth and depth of innovation, quality, reliability, expertise and market coverage they need to prosper.”

About 225 employees globally are in the scope of the transaction, of which approximately 175 are located in Asia.

The combined textiles businesses will remain headquartered in Singapore, close to customers in Asia’s fast-growing textile markets.

The closing of the transaction of BASF Pakistan (Private) Ltd in Pakistan is expected to take place in August 2015.

Archroma is a portfolio company of US-based private investment firm SK Capital Partners. (AR)

Fibre2Fashion News Desk - India


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