Archroma, a global leader in specialty chemicals for the textile, paper and emulsions sectors, has announced that it has completed acquisition of BASF’s global textile chemicals business. The acquisition further solidifies Archroma’s position as a clear industry leader in supplying chemicals and dyes to the global textile industry.
The closing of the transaction for the legal entity BASF Pakistan (Private) Ltd., Karachi, is expected to take place in August.
This is the second strategic transaction by Archroma following its corporate carve-out from Clariant in 2013, after previously acquiring a stake in the textile dyes and chemicals manufacturer M. Dohmen in 2014.
The BASF business delivers products and technologies across the entire textile chemicals spectrum, with particular strengths in printing, finishing and coating chemicals. The acquisition strategically complements Archroma’s product portfolio and geographical presence that will now include BASF’s strong market position in Asia and several other high-growth markets. The combined textile chemical businesses will continue their history of maintaining a strong commitment to innovation and sustainability.
“The textile industry is undergoing transformational change resulting from macro supply and demand shifts as well as a growing customer demand for sustainably-oriented solutions” said Alexander Wessels, CEO of Archroma. He added: “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 to prosper in these market conditions.”
Over 220 employees globally are in the scope of the transaction, of which 175 are located in Asia. The combined textiles businesses will remain headquartered in Singapore, close to customers in Asia’s fast-growing textile markets.