Acquisition will bring rich textile chemistry legacies together
Textiles chemicals group Archroma has entered into a definitive agreement to acquire Huntsman Textile Effects from Huntsman Corporation.
It said the acquisition would create “a technology powerhouse”. This combination will bring together the textile chemicals heritage of groups including Sandoz, Hoechst, Clariant, BASF and Dohmen, companies that were at the cutting edge of the textile industry for decades, Archroma said.
“We at Archroma are excited to announce what we see as a merger of equals,” said Archroma chief executive, Heike van de Kerkhof. “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.”
The president of Huntsman Textile Effects, Rohit Aggarwal, described the two organisations as complementary “with strong cultures of innovation and a shared commitment to inspire advancements in the textile industry”.
Conclusion of the transaction is expected in the first half of 2023.
