- Archroma has entered into an agreement to acquire the textile chemicals business of BASF
- Acquisition will extend Archroma’s portfolio offering and strengthen its presence in high growth markets
Reinach, 16 October 2014 – Archroma, a global leader in specialty chemicals for the textile, paper and emulsions sectors and a portfolio company of US-based private investment firm SK Capital Partners, today announced that they have entered an agreement to acquire the global textile chemicals business of BASF.
The business being acquired delivers products and technologies across the entire textile chemicals spectrum, with particular strength in printing, finishing and coating chemicals segments. The acquisition ideally complements Archroma’s textile dyes and chemicals portfolio and geographical presence. In addition, the acquisition will allow Archroma to reinforce its Textile Specialties team with a global specialist team that has an especially strong presence in Asia and other high growth markets. Both BASF’s and Archroma’s textile businesses are headquartered in Singapore, close to the highly developing Asian textile markets and customers.
“With this agreement, we are bringing together the century-old history of BASF textile chemicals products, technologies and people with Archroma’s already strong heritage from Hoechst, Sandoz and Clariant,” Alexander Wessels, CEO of Archroma, notes. “Archroma already acquired 49% of textile manufacturer M. Dohmen in May 2014, illustrating our company’s determination to become the preferred supplier in our industries.”
Thomas Winkler, Archroma’s Textile Specialties President, added “We are looking forward to partnering with the management and employees of the BASF textile chemicals business. I am convinced that together we can build upon our strong technologies and market positions with the same commitment to customer focus, innovation, world-class quality standards, high service levels, cost-efficiency and sustainability.”
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, of which approximately 230 are in Asia.
The transaction is subject to approval by the relevant antitrust authorities and the closing is expected to take place by the end of the first quarter in 2015. The parties have agreed not to disclose the financial details of the transaction.
© 2014 Archroma
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Archroma 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 3000 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”.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. BASF combines economic success with environmental protection and social responsibility. Through science and innovation, BASF enables its customers in nearly every industry to meet the current and future needs of society. BASF’s products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. BASF has summed up this contribution in its 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). Further information on BASF is available on the Internet at www.basf.com.
Further information on BASF’s Textile Chemicals business is available at www.performancechemicals.basf.com.
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