Archroma, the global leader in sustainable specialty chemicals and solutions, has announced it entering into the definitive agreement to acquire the Textile Effects business from Huntsman Corporation, an American multinational manufacturer and marketer of chemical products.
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.
Since its formation in 2013, through a series of mergers and acquisitions, as well as internal investments in R&D, manufacturing and service capabilities, Archroma has been building a comprehensive portfolio of solutions to serve the emerging needs of the textile industry.
The company said that the combination with Textile Effects and its historical roots of Huntsman and Ciba Specialties will create a technology powerhouse that will include Archroma’s legacy heritages of Sandoz, Hoechst, Clariant, BASF and Dohmen.
Both Archroma and Textile Effects are founding members of Sustainable Chemistry for the Textile Industry (SCTI), an alliance of leading chemical companies that strives to empower the textile and leather industries to apply sustainable, state-of-the-art chemistry solutions that protect factory workers, local communities, consumers and the environment.
Both companies have been recognized by the industry and are each recipient of multiple awards for supplying sustainable systems and solutions in dyes and chemicals.
Closing of the transaction is subject to customary conditions and approvals and is expected to take place in the first half of 2023.
Archroma recently released its Color Atlas online library for open access in design software for fashion, apparel, and textiles.
Comment here