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Business

BASF Will Divest Textile Chemicals

by Marc S. Reisch
October 20, 2014 | APPEARED IN VOLUME 92, ISSUE 42

BASF has reached a deal to sell its global textile chemicals business to Archroma, the former Clariant textile chemical operations now owned by private equity firm SK Capital Partners. Financial terms of the deal haven’t been disclosed. About 290 BASF employees will join Archroma, including 230 based in Asia, when the deal closes in 2015. Archroma says the century-old BASF business will strengthen its operations, which also include the former Hoechst and Sandoz textile chemicals businesses.

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