![]() ![]() "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."īofA Securities is serving as Huntsman's financial advisor and Kirkland & Ellis LLP is acting as its legal advisor. 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. 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. ![]() This acquisition will offer combined product. Elektrische oder elektronische Produkte können ein Risiko für Feuer oder einen. Haftungsausschluss: Etsy übernimmt keine Verantwortung für die Richtigkeit, Kennzeichnung oder den Inhalt der Artikel und Produkte von Verkäufern. Peter Huntsman, Chairman, President, and CEO comments, "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. In February 2023, Archroma has announced an acquisition of textile effects business from Huntsman Corporation. Japanischer Stoff Kokka Kira Kira Mädchen Baumwolle Oxford Canvas - Rosa - 50cm. 2) evaluated herein are examples of such technology. These biodegradable DWRs are beginning to find application in commercial apparel, and compounds X and XI (Fig. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2023. The textile and apparel industry is a primary example of this need. Huntsman intends to report Textile Effects as discontinued operations beginning in the third quarter of 2022. Huntsman anticipates cash taxes on the transaction of approximately $50 million. Over the last 12 months ended June 30, 2022, the Textile Effects division reported sales of $772 million and adjusted EBITDA of $94 million. 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. 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. Archroma and Huntsman Textile Effects have both announced alliances in textile technology. Huntsman Corporation has entered into a definitive agreement to sell its Textile Effects division to Archroma, a portfolio company of SK Capital Partners. The 7 billion textile dyes market is undergoing a major shift as better chemistry and industry standardisation make it easier for brands to create more eco-friendly clothing. ![]()
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