Archroma announced this week that it has entered an agreement to acquire the global textile chemicals business of BASF.

The business being acquired delivers products and technologies across the entire textile chemicals spectrum, with particular strength in printing, finishing and coating chemicals segments. The acquisition ideally complements Archroma's textile dyes and chemicals portfolio and geographical presence, the company said.

In addition, Archroma said the acquisition will allow the company to reinforce its Textile Specialties team with a 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 the highly developing Asian textile markets and customers.

"With this agreement, we are bringing together the century-old history of BASF textile chemicals products, technologies and people with Archroma's already strong heritage from Hoechst, Sandoz and Clariant," Alexander Wessels, CEO of Archroma, said. "Archroma already acquired 49% of textile manufacturer M. Dohmen in May 2014, illustrating our company's determination to become the preferred supplier in our industries."

Thomas Winkler, Archroma's Textile Specialties President, added, "We are looking forward to partnering with the management and employees of the BASF textile chemicals business. I am convinced that together we can build upon our strong technologies and market positions with the same commitment to customer focus, innovation, world-class quality standards, high service levels, cost-efficiency and sustainability."

The transaction comprises the global textile chemicals business, as well as the legal entity BASF Pakistan (Private) Ltd., Karachi. About 290 positions globally are in the scope of the transaction, of which approximately 230 are in Asia.

Created from the textile, paper and emulsions businesses of Clariant, Archroma is a global color and specialty chemicals company.