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India’s Kiri Dyes & Chemicals has acquired DyStar’s North American assets for $10 million from private equity firm Platinum Equity. Earlier this year, Kiri bought DyStar’s bankrupt European operations (C&EN, March 22, page 12). Platinum Equity had acquired all of DyStar from joint owners BASF, Bayer, and Hoechst in 2004. A producer of textile dyes and auxiliaries, DyStar North America has annual sales of more than $100 million. Kiri has moved DyStar’s headquarters from Germany to Singapore and is in the process of transferring dye production to India, China, and Indonesia to reduce costs.
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