The Associated Press reported that Huntsman, an American chemical company, said on Monday that it had agreed to acquire the textile printing and dyeing business of Swiss Ciba Professional Chemical Company, with an investment of about $65,438+96 million.
In 2005, the income of the textile department of Ciba was about 1 billion US dollars, accounting for 17% of the company's total income. It employs 4,200 employees in 1 1 factories in eight countries, producing chemical products and dyes for textile dyeing and processing. Ciba's revenue in Asia is $360 million, which will help Huntsman expand its business in Asia.
Huntsman acquired the polymer division of Ciba in 2003, and they will start business in newly acquired textile enterprises in Basel, Switzerland and Panyu, China.