From the Sector

DyStar, a specialty chemical company with a heritage of more than a century in product development and innovation, is announcing the sale of its auxiliary manufacturing site located at Pietermaritzburg, South Africa.

Oakland Polymers Pty Ltd, a local manufacturer, has acquired DyStar’s manufacturing facility and will take over the site to expand their polymer business. Under the sale and purchase agreement, DyStar divested the entire facility, which is approximately 12,000 sqm, to Oakland Polymers and Oakland Properties. DyStar Africa’s operations will continue to lease part of the premises from Oakland for office and warehousing use.

Mr. Xu Yalin, Managing Director, and President of DyStar Group said, “The sale of the manufacturing site at DyStar Africa is part of our ongoing efforts to reconsolidate our business resources in Turkey, Africa & Middle East (TAME) region, with a focus on improving productivity and utilization rates.”

As a result of the acquisition, all employees at the manufacturing site have already been informed. Compensation packages are offered to affected colleagues as well.

Customers have also been informed of undisrupted supply to their orders during the transition period and are further assured of a seamless customer journey going forward when the acquisition is completed.