BASF says it remains committed to leather
16/10/2014
In a statement, BASF told us: “BASF is one of three leading global suppliers of chemicals for the leather industry with strong focus on automotive and premium leather. We remain fully committed to be the preferred partner to provide reliable, innovative and sustainable chemical solutions for the leather industry worldwide. The global Leather Chemicals business will continue within BASF, headquartered in Singapore.”
Also Singapore-based, Archroma entered into an agreement to acquire the global textile chemicals business of BASF on October 16. Both parties agreed not to disclose the financial arrangements of the deal and said they hoped it would receive regulatory approval and be complete in the first quarter of 2015.
Archroma said the acquisition will complement its textile dyes and chemicals portfolio and geographical presence. In addition, it will allow Archroma to reinforce its textile specialties team with BASF’s global specialist team that has an especially strong presence in Asia and other high-growth markets. Both BASF’s and Archroma’s textile businesses are headquartered in Singapore, close to Asian textile markets and customers.
Owner SK Capital Partners launched Archroma in 2013 after acquiring the textile business of another major European chemicals group, Clariant.
BASF said the decision to sell its textile division was in line with a strategy of focusing its wider performance products segment on “growth-driven customer industries”. Its performance products segment also includes its leather chemicals business.
In response to questions from leatherbiz, BASF said that, as part of this strategy, it wanted to remain as one of the suppliers of choice to tanners around the world.
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