Sale of BASF Textile Chemicals to Archroma Completed
Along with the official launch of the new Ineos-Solvay PVC joint venture Inovyn and BASF’s sale of its 25% stake in SolVin, another PVC jv, to Solvay, BASF has completed the sale of its textile chemicals business to Archroma.
The BASF business strategically complements its own portfolio and geographical presence and further solidifies its position as a clear industry leader in supplying chemicals and dyes to the global textile industry, said Archroma.
In 2014, the carve-out from Swiss specialty chemicals producer Clariant, currently owned by private equity investor SK Capital Partners acquired a stake in textile dyes and chemicals manufacturer M. Dohmen.
With the latest deal, the Swiss company said it will be able to build on BASF’s strong market positions in Asia and several other high-growth markets.
“The operational and intellectual synergies between BASF and Archroma will allow us to offer our customers the full breadth and depth of innovation, quality, reliability, expertise and market coverage they need,” said CEO Alexander Wessels.
Around 225 BASF employees, including 175 based in Asia, will transfer to the business. The combined textiles businesses will remain headquartered in Singapore.
The transfer of Karachi-based BASF Pakistan to Archroma is expected to take place in August of this year.