Archroma completes Textile Effects buy
SK Capital subsidiary Archroma has closed the acquisition of the Singapore-based Huntsman Textile Effects business. Described as a merger of equals, this will create a company over 5,000 employees in 42 countries and 35 production sites. Archroma also announced a split into two operating divisions, each focused on a separate end market.
The newly acquired business will be integrated with the existing Brand & Performance Textile Specialties business in a new division named Archroma Textile Effects. This will be led by divisional president Rohit Aggarwal, former president of Huntsman Textile Effects, who is also CEO and president of Asia.
Arochoma’s Packaging & Paper Specialties & Coatings, and Adhesives & Sealants businesses were recently combined into a new Archroma Paper, Packaging & Coatings division. This will be headed by Sameer Singla, who will also be the corporate president for the Americas and the EMEA region.