BASF selling global textile chemicals business Archroma

BASF to sell global textile chemicals business to Archroma

11:36 AM, 16th October 2014
BASF selling global textile chemicals business to Archroma

LUDWIGSHAFEN, GERMANY: BASF and Archroma have agreed on the sale of BASF’s global textile chemicals business to Archroma, a supplier of specialty chemicals to the textile, paper and emulsions industries. Archroma is a portfolio company of SK Capital Partners, a private investment firm with focus on the specialty materials, chemicals and healthcare sectors. It is planned to integrate the business into the Archroma Textile Chemicals Specialties business. Currently, the textile chemicals business is part of BASF’s Performance Chemicals division. The transaction is subject to approval by the relevant antitrust authorities and the closing is expected to take place in the first quarter of 2015. The parties have agreed not to disclose financial details.

The transaction comprises the global textile chemicals business, as well as the legal entity BASF Pakistan (Private) Ltd, Karachi. About 290 positions globally are in the scope of the transaction, thereof approximately 230 in Asia. This step is in line with BASF’s strategy of actively managing its portfolio and it will further sharpen the focus of the Performance Products segment on growth driven customer industries.

“In a very competitive and highly fragmented market, we have successfully positioned the textile chemicals business as one of the leading global textile suppliers. The current consolidation process of the industry means that a critical mass is necessary to grow the business successfully. We see positive future growth prospects for the business under the umbrella of Archroma, building on the expertise and professionalism of our textile chemicals team,” said Hans W Reiners, President, Performance Chemicals division, BASF.

Related News - Ineos to acquire BASF’s 50 pc share in Styrolution

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