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Dystar files for insolvency
30
Sep '09
The Germany based dyes and auxiliaries global multinational group of companies which includes DyStar Textilfarben GmbH, DyStar Textilfarben GmbH & Co. Deutschland KG and DyStar Holdings GmbH, have filed an insolvency petition with a local court for the company's Germany-based business operations.

The company has been facing liquidity pressures since a long time and after failing to address them, finally decided to file the insolvency petition. Dystar has included its plant locations at Frankfurt, Leverkusen, Brunsbüttel, Geretsried and Ludwigshafen, which together employ approximately 1,300 people in the petition.

Dystar supplies its dyes and auxiliaries mainly to the global textile and leather sectors. The company is headquartered in Frankfurt and has 19 production plants in 13 countries, sales offices in all key countries with a head count of approximately 3,700 employees and a turnover of an estimated €800 million.

Fibre2fashion News Desk - India

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