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09.08.2022

Huntsman announces Agreement to sell Textile Effects Division

Huntsman Corporation (NYSE: HUN) announced it has entered into a definitive agreement to sell its Textile Effects division to Archroma, a portfolio company of SK Capital Partners.  The total enterprise value of the transaction is approximately $718 million, which includes the assumption of approximately $125 million in net underfunded pension liabilities as of December 31, 2021. The acquisition is being partially funded with preferred equity, of which Huntsman is taking up to $80 million, an amount SK Capital Partners will seek to syndicate prior to the transaction closing.

Over the last twelve months ending June 30, 2022, the Textile Effects division reported sales of $772 million and adjusted EBITDA of $94 million. Huntsman anticipates cash taxes on the transaction of approximately $50 million. Huntsman intends to report Textile Effects as discontinued operations beginning in the third quarter of 2022. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2023.       

Peter Huntsman, Chairman, President, and CEO commented:

Huntsman Corporation (NYSE: HUN) announced it has entered into a definitive agreement to sell its Textile Effects division to Archroma, a portfolio company of SK Capital Partners.  The total enterprise value of the transaction is approximately $718 million, which includes the assumption of approximately $125 million in net underfunded pension liabilities as of December 31, 2021. The acquisition is being partially funded with preferred equity, of which Huntsman is taking up to $80 million, an amount SK Capital Partners will seek to syndicate prior to the transaction closing.

Over the last twelve months ending June 30, 2022, the Textile Effects division reported sales of $772 million and adjusted EBITDA of $94 million. Huntsman anticipates cash taxes on the transaction of approximately $50 million. Huntsman intends to report Textile Effects as discontinued operations beginning in the third quarter of 2022. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2023.       

Peter Huntsman, Chairman, President, and CEO commented:

"Over the past seven months, we have conducted a comprehensive strategic review of our Textile Effects division, including detailed discussions with a wide range of relevant parties. After evaluating several different options and thoroughly reviewing prospective offers for the business, our Board of Directors decided that SK Capital would be a better owner of the business over the long-term than Huntsman and that the value they offered was in the best interests of our shareholders. After closing, Textile Effects will combine with SK Capital's Archroma business to create a world leader in textile chemicals and dyes, with a leadership in sustainability and innovation.

"We expect the cash proceeds from this divestiture to be deployed in-line with our current balanced capital allocation program which includes strategic investments and acquisitions to further strengthen our core businesses as well as returning cash to shareholders through both our dividend and share repurchase program."

09.08.2022

Archroma to acquire the Textile Effects business of Huntsman Corporation

Archroma, a global leader in sustainable specialty chemicals and solutions and a portfolio company of U.S.-based private investment firm SK Capital Partners (“SK Capital”), announced it has entered into a definitive agreement to acquire the Textile Effects business (“Textile Effects”) from Huntsman Corporation. Closing of the transaction is subject to customary conditions and approvals and is expected to take place in the first half of 2023.

Since its formation in 2013, through a series of mergers & acquisitions, as well as internal investments in R&D, manufacturing and service capabilities, Archroma has been building a comprehensive portfolio of solutions to serve the emerging needs of the textile industry. The combination with Textile Effects and its rich historical roots of Huntsman and Ciba Specialties will create a technology powerhouse that will include Archroma’s legacy heritages of Sandoz, Hoechst, Clariant, BASF and Dohmen who have been at the cutting edge of the textile industry for decades, and together will continue to serve customers for years to come.

Archroma, a global leader in sustainable specialty chemicals and solutions and a portfolio company of U.S.-based private investment firm SK Capital Partners (“SK Capital”), announced it has entered into a definitive agreement to acquire the Textile Effects business (“Textile Effects”) from Huntsman Corporation. Closing of the transaction is subject to customary conditions and approvals and is expected to take place in the first half of 2023.

Since its formation in 2013, through a series of mergers & acquisitions, as well as internal investments in R&D, manufacturing and service capabilities, Archroma has been building a comprehensive portfolio of solutions to serve the emerging needs of the textile industry. The combination with Textile Effects and its rich historical roots of Huntsman and Ciba Specialties will create a technology powerhouse that will include Archroma’s legacy heritages of Sandoz, Hoechst, Clariant, BASF and Dohmen who have been at the cutting edge of the textile industry for decades, and together will continue to serve customers for years to come.

Both Archroma and Textile Effects are founding members of Sustainable Chemistry for the Textile Industry (SCTI), an alliance of leading chemical companies that strives to empower the textile and leather industries to apply sustainable, state-of-the-art chemistry solutions that protect factory workers, local communities, consumers and the environment.

Source:

Archroma

(c) Huntsman Textile Effects
12.05.2021

Huntsman Textile Effects at Performance Days Digital Fair Week

  • Huntsman Textile Effects presents range of high-performance solutions for performance apparel

Huntsman Textile Effects, global leader in innovative solutions and environmentally sustainable products, will highlight its extensive end-to-end suite of protection effects and high-performance solutions for performance apparel at the Performance Days Digital Fair Week this May. Huntsman will also deliver a presentation on sustainability, showcasing the top megatrends impacting the textile industry.

With increasing adoption of active lifestyles and outdoor activities, consumers are demanding high-performance, yet comfortable and sustainably-produced sportswear. Consumers are looking for brands that incorporate sustainable processes and principles in their operations.

  • Huntsman Textile Effects presents range of high-performance solutions for performance apparel

Huntsman Textile Effects, global leader in innovative solutions and environmentally sustainable products, will highlight its extensive end-to-end suite of protection effects and high-performance solutions for performance apparel at the Performance Days Digital Fair Week this May. Huntsman will also deliver a presentation on sustainability, showcasing the top megatrends impacting the textile industry.

With increasing adoption of active lifestyles and outdoor activities, consumers are demanding high-performance, yet comfortable and sustainably-produced sportswear. Consumers are looking for brands that incorporate sustainable processes and principles in their operations.

“The upward trend in the performance apparel segment is spurred on by the demands and evolving needs of consumers; sustainability also remains the top of mind amongst these consumers. At Huntsman, we are delighted to be able showcase our suite of solutions that are high-performing and sustainable, so that mills and brands are better able to meet the fast-changing market needs,” said Dhirendra Gautam, Senior Director – Global Market Strategy and Innovation, Huntsman Textile Effects.

Huntsman’s featured solutions:

  • Complete end-to-end systems for protection effects, from pre-treatment to coloration and finishing
  • Revolutionary antimicrobial and odor-control solutions from Sciessent - The Agion®, Lava X2® and Active X2® products will be featured at the upcoming show
  • HIGH IQ® intelligent effects is a set of brand assurance programs that support accelerated evaporation, water and stain repellence, lasting color and cool comfort, ensuring garments dry quickly for long-lasting comfort

Performance Days Digital Fair Week will take place digitally from May 17-21, 2021. Huntsman will also deliver a presentation on May 18, 2021, at 2 p.m. (CEST) at the Expert Talk session. Titled “Sustainability & Textiles: Being the Change That We Want to See”, the presentation will showcase the megatrends that will define the next five years, and the textile and apparel industries’ quest for more sustainable design, product development, production methods and garment care.

Source:

Huntsman Textile Effects

25.10.2019

Huntsman Textile Effects introduces ERIOPON® E3-SAVE Dyeing Auxiliary

Eco-friendly dyeing auxiliary saves time, water and energy by enabling pre-scouring, dyeing and reduction clearing in a single-bath
Huntsman Textile Effects introduces the breakthrough ERIOPON® E3-SAVE dyeing auxiliary for the new “single-bath scour-dye-reduction clear concept” providing the shortest possible processing cycle for polyester thus saving time, water, energy and cost.

The demand for polyester and man-made fibers is booming as sports and athleisure apparel markets expand rapidly around the world. At the same time, brands, consumers and mills are increasingly focused on sustainability and performance resulting in raising demand for optimization of the costly, time consuming and resource intensive polyester dyeing process.

Developed by Huntsman Textile Effects specifically to meet these challenges, the advanced all-in-one ERIOPON® E3-SAVE dyeing auxiliary is engineered to help the mills achieve considerable savings in the water, energy and time for the intensive process of dyeing polyester and its blends by combining pre-scouring, dyeing and reduction clearing in a single bath.

Eco-friendly dyeing auxiliary saves time, water and energy by enabling pre-scouring, dyeing and reduction clearing in a single-bath
Huntsman Textile Effects introduces the breakthrough ERIOPON® E3-SAVE dyeing auxiliary for the new “single-bath scour-dye-reduction clear concept” providing the shortest possible processing cycle for polyester thus saving time, water, energy and cost.

The demand for polyester and man-made fibers is booming as sports and athleisure apparel markets expand rapidly around the world. At the same time, brands, consumers and mills are increasingly focused on sustainability and performance resulting in raising demand for optimization of the costly, time consuming and resource intensive polyester dyeing process.

Developed by Huntsman Textile Effects specifically to meet these challenges, the advanced all-in-one ERIOPON® E3-SAVE dyeing auxiliary is engineered to help the mills achieve considerable savings in the water, energy and time for the intensive process of dyeing polyester and its blends by combining pre-scouring, dyeing and reduction clearing in a single bath.

Source:

Huntsman Textile Effects:

04.07.2019

Huntsman Textile Effects at Performance Days in New York

Huntsman Textile Effects will be highlighting its extensive range of HIGH IQ® intelligent effects at the Functional Fabric Fair power by Performance Days in New York this July. Huntsman’s comprehensive range of non-fluorinated Durable Water Repellency technology will also be presented at the upcoming show.

Through our cutting-edge technology and expert technical knowledge, High IQ® delivers the industry’s leading range of innovative, eco-friendly intelligent textile effects. Fabrics treated with our intelligent effects are sustainable textile products that deliver the performance and benefits consumers expect of high-quality brands.

Huntsman Textile Effects will be highlighting its extensive range of HIGH IQ® intelligent effects at the Functional Fabric Fair power by Performance Days in New York this July. Huntsman’s comprehensive range of non-fluorinated Durable Water Repellency technology will also be presented at the upcoming show.

Through our cutting-edge technology and expert technical knowledge, High IQ® delivers the industry’s leading range of innovative, eco-friendly intelligent textile effects. Fabrics treated with our intelligent effects are sustainable textile products that deliver the performance and benefits consumers expect of high-quality brands.

More information:
"Huntsman Textile Effects"
Source:

Huntsman Textile Effects

Rajiv Banavali (c) Huntsman Textile Effects
Rajiv Banavali
14.08.2018

Huntsman Textile Effects names new Global Vice President of Research & Technology

Huntsman Textile Effects is pleased to announce the appointment of  Rajiv Banavali as its new Global Vice President of Research and Technology, effective August 10. Rajiv will join the Textile Effects senior management as part of its global leadership team and will report directly to Rohit Aggarwal, President Textile Effects.

Rajiv joins from Honeywell International where he held several research and development leadership roles including his most recent, as Vice President, Chief Technology Officer, with its Advanced Materials division. He has more than 20 years’ experience in the development and execution of R&D strategies and the advancement of innovation platforms for both product and process technology roadmaps. Rajiv has proven success in leading large, global research organizations in the development and commercialization of technologies in the area of specialty chemicals, both at Honeywell and at his previous employer, Rohm & Haas.   

Huntsman Textile Effects is pleased to announce the appointment of  Rajiv Banavali as its new Global Vice President of Research and Technology, effective August 10. Rajiv will join the Textile Effects senior management as part of its global leadership team and will report directly to Rohit Aggarwal, President Textile Effects.

Rajiv joins from Honeywell International where he held several research and development leadership roles including his most recent, as Vice President, Chief Technology Officer, with its Advanced Materials division. He has more than 20 years’ experience in the development and execution of R&D strategies and the advancement of innovation platforms for both product and process technology roadmaps. Rajiv has proven success in leading large, global research organizations in the development and commercialization of technologies in the area of specialty chemicals, both at Honeywell and at his previous employer, Rohm & Haas.   

“As the global textiles industry transitions to new business models in an increasingly competitive and tightly regulated environment, it is now more important than ever that Huntsman Textile Effects remains innovative, flexible and close to our customers. We are extremely pleased to have in Rajiv, a highly experienced candidate with a global outlook and an acute commercial acumen, to lead a critical area of our business, focusing on advancing our sustainability agenda while progressing the research and innovation of our product portfolio,” said Rohit Aggarwal.

Rajiv holds a Ph.D. in Organic Chemistry from the University of Missouri, USA. Rajiv will be based in Singapore and will relocate from New Jersey, USA.
Rajiv succeeds Sarada Namhata who is retiring after five years in the role.

More information:
"Huntsman Textile Effects"
Source:

Huntsman Textile Effects

Patent Re-examination Board of SIPO upholds Huntsman’s Patents
16.04.2018

Patent Re-examination Board of SIPO upholds Huntsman’s Patents

Huntsman Corporation (NYSE: HUN) is pleased to announce that the Patent Re-examination Board of the State Intellectual Property Office, China (PRB) upheld Huntsman’s Chinese Patents Nos. ZL00106403.7 and ZL200480003051.4.  These patents were contested by Shaoxing Bangyi Chemical Co., Ltd. and Taixing Jinyun Dyestuff Co., Ltd. By its ruling, the PRB rejected the positions of the petitioners and confirmed that Huntsman’s patented technology, which is used in Huntsman’s NOVACRON® Super Black G and NOVACRON® Super Black R dyes, is Huntsman’s valuable innovation for producing deep black shades.

Huntsman Corporation (NYSE: HUN) is pleased to announce that the Patent Re-examination Board of the State Intellectual Property Office, China (PRB) upheld Huntsman’s Chinese Patents Nos. ZL00106403.7 and ZL200480003051.4.  These patents were contested by Shaoxing Bangyi Chemical Co., Ltd. and Taixing Jinyun Dyestuff Co., Ltd. By its ruling, the PRB rejected the positions of the petitioners and confirmed that Huntsman’s patented technology, which is used in Huntsman’s NOVACRON® Super Black G and NOVACRON® Super Black R dyes, is Huntsman’s valuable innovation for producing deep black shades.

Huntsman sued Jiangsu Jinji Industrial Co., Ltd. and Taixing Jinyun Dyestuff Co., Ltd. for infringing the above mentioned Chinese Patents at the Beijing Intellectual Property Court by using Huntsman’s patented technology in six black dyestuff products. Huntsman is seeking substantial damages and an injunction against further infringement.  Huntsman is also seeking substantial damages and an injunction against further infringement in a separate lawsuit against Zhejiang Longsheng Group Co., Ltd., Zhejiang Keyong Chemical Co., Ltd., and Shanghai Colva Dyestuff Industry Co., Ltd. This matter is currently being heard before the High People's Court, Shanghai.  In earlier decisions, both the Shanghai Intermediate People’s Court and the Shanghai High People’s Court ruled that Shanghai Colva Dyestuff Industry Co., Ltd. had infringed Huntsman’s Chinese Patent No. ZL00106403.7 by manufacturing and selling Colvazol Super Black LC-G and Colvazol Super Black LC-R dyes.

Rohit Aggarwal, President of Huntsman Textile Effects said: “We are very pleased with the PRB’s decision which demonstrates the State Intellectual Property Office’s commitment to steadfastly uphold intellectual property rights in China which protect valuable and advanced technology. This encourages companies like Huntsman to continue to invest in research and development in our aim to bring cutting-edge innovation to the textile industry. Huntsman will vigorously pursue those who are infringing our intellectual property rights to stop the unlawful infringement and pursue full compensation for our losses”.