PRZOOM - /newswire/ -
Ludwigshafen, Germany, 2014/10/16 - 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.com / BASF.com. DE000BASF111
• Business to become part of Archroma’s Textile Specialties;
• BASF’s Performance Products segment further sharpens focus on growth-driven customer 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 of BASF’s Performance Chemicals division.
The textile chemicals business of BASF offers solutions to the full textile processing value chain, which includes a portfolio for pre-treatment, printing, finishing and coating. The business has a global presence with a strong focus on Asian growth markets, and is headquartered in Singapore.
At BASF (basf.com), we create chemistry and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world’s leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of about €74 billion in 2013 and over 112,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).
Archroma (archroma.com) is a global color and specialty chemicals company committed to innovation, world-class quality standards, high service levels, cost-efficiency and sustainability. Archroma is headquartered in Reinach near Basel, Switzerland, and operates with approximately 3,000 employees over 35 countries. Through its three businesses: Textile Specialties, Paper Solutions and Emulsion Products, Archroma delivers specialized performance and color solutions to meet customer needs in their local markets. Archroma helps people fulfill their desire for products that appeal to their emotions and senses for a greater life experience, by developing beauty- and performance-improving technologies applied to everyday products. Products enhanced, colors enhanced, performance enhanced “Life enhanced”.
Contact: Ian de Souza - Trade media
P: +49 1522 9869 156 - E: ian.desouza[.]basf.com.