Archroma: To acquire Huntsman Corporation's Textile Effects business
08 August 2022, Mumbai:
The combined company will continue to lead the textile industry in sustainability, innovation, and performance offering fashion brands, automotive, technical, and home textiles the best-in-class cost performance whilst respecting natural resources and the planet.
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“I am thrilled to see the combination of Huntsman Textile Effects and Archroma”, said Barry Siadat, Co-founder of SK Capital Partners and Chairman of Archroma. “Finally, we have achieved a dream of combining the technologies, products, and capabilities of the legacy pioneers of the textile industry, namely Ciba, Sandoz, Hoechst, and BASF, into a modern and cohesive enterprise that is focused on delivering innovative and sustainable systems and solutions to serve the evolving needs of today’s textile industry.”
“We at Archroma are so very excited to announce what we see as a merger of equals”, comments Heike van de Kerkhof, CEO of Archroma. “With this agreement, two committed leaders in sustainable and innovative solutions unite to pave the way towards a more sustainable textile industry. We are delighted to welcome a team of highly talented people”, adds Heike van de Kerkhof. “Innovative and transformative leadership is not built overnight, and we are eager to work together with the people who made that happen at Huntsman Textile Effects.”
“The combination of Archroma dyes and Textile Effects is transformational, bringing together two highly complementary organizations with strong cultures of innovation and a shared commitment to inspire advancements in the textile industry.
We are excited by what we will be able to achieve together. At a time when we are seeing robust growth trends in sustainability, the merger will position us firmly to accelerate growth and drive significant value for our customers, employees, and stakeholders,” said Rohit Aggarwal, President of Huntsman Textile Effects.
The closing of the Archroma Huntsman transaction is subject to customary conditions and approvals and is expected to take place in the first half of 2023.
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