Archroma has entered into a definitive agreement with Huntsman Corporation and says the combined company will continue to lead the textile industry in sustainability, innovation and performance by providing fashion brands, automotive, technical and home textiles with the best cost performance while respecting natural resources and the planet.
Since its inception in 2013, through a series of mergers and acquisitions, as well as internal investments in R&D, manufacturing and service capabilities, Archroma has built a comprehensive portfolio of solutions to meet the emerging needs of the textile industry. . The company says the combination with Textile Effects and its historic roots of Huntsman and Ciba Specialties will create a technology powerhouse that will include Archroma’s legacy legacies 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 working to empower the textile and leather industries to apply solutions sustainable, advanced chemicals that protect plant workers, local communities, consumers and the environment.
Both companies have been recognized by the industry and have each received multiple awards for providing sustainable systems and solutions in dyes and chemicals that enable fashion brands, retailers and textile manufacturers to create better for consumers and the planet.
“I’m thrilled to see the combination of Huntsman Textile Effects and Archroma,” said Barry Siadat, co-founder of SK Capital Partners and president of Archroma. “Finally, we have realized the dream of combining the technologies, products and capabilities of the pioneers of the textile industry, namely Ciba, Sandoz, Hoechst and BASF, in a modern and coherent company that focuses on providing systems innovative and sustainable products and solutions to meet the changing needs of today’s textile industry.
Heike van de Kerkhof, CEO of Archroma, adds: “With this agreement, two leaders committed to sustainable and innovative solutions come together to pave the way towards a more sustainable textile industry. We are delighted to welcome a team of very talented people. Innovative and transformative leadership doesn’t happen overnight, and we look forward to working with the people who have made it possible at Huntsman Textile Effects.
Meanwhile, Rohit Aggarwal, President of Huntsman Textile Effects, notes, “The combination of Archroma and Textile Effects is transformational, bringing together two highly complementary organizations with strong cultures of innovation and a shared commitment to inspiring industry advancements. ‘textile industry. We are excited about what we can accomplish together. At a time when we are seeing robust growth trends in sustainability, the merger will firmly position us to accelerate growth and create meaningful value for our customers, employees and stakeholders. »
Closing of the transaction is subject to customary conditions and approvals and is expected to occur in the first half of 2023.
Archroma recently released its Color Atlas online library for free access in design software for fashion, apparel and textiles.