Confirmed: DyStar production sites under new ownership
09/02/2010
Operations at four of the German production sites run by specialist dye manufacturer DyStar are about to re-start production under new ownership.
Indian firm Kiri Dyes & Chemicals Limited (KDCL) has taken over the sites at Brunsbüttel, Leverkusen, Frankfurt and Ludwigshafen. DyStar filed for insolvency in September 2009, since when only the indigo dye production in Ludwigshafen continued uninterrupted.
“The investor has secured financing of the purchase price and also met other conditions. The purchase agreement concerning operations of the German DyStar Group, the necessary assets and the 36 international subsidiaries has been executed,” said insolvency administrator Miguel Grosser. This leaves up to 750 jobs in Germany and some 2,000 jobs worldwide secure. The exact purchase price was not disclosed.
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