Dye Kemira to Sell Majority of Colorants Business to Chromascape
Kemira has plans to divest most of its colorants business to US-based firm Chromascape. The deal also includes its manufacturing site at Goose Creek in South Carolina. Kemira will retain its colorants business in the APAC region.
Helsinki/Finland – Kemira has signed a definitive agreement to sell its colorants dye business to US based Chromascape. Revenue of the business in 2021 was approximately 50 million euros and 67 employees will be transferred to Chromascape as part of the transaction which is expected to be closed in the first quarter of 2023. Scope also includes Kemira’s manufacturing site at Goose Creek, Bushy Park in South Carolina. Kemira will keep its APAC related colorants business.
“We are very happy to see that our strategic objective to streamline Kemira’s portfolio is reaching the next milestone. Chromascape has shown ways to take the colorants platform to new heights and thus secures further value creation for our joint customer base,” says Antti Matula, SVP Global Product Lines & Business Development, Kemira Oyj.
“This agreement allows us to expand our already strong position in the paper dye market. We welcome the experienced Kemira staff to our team and are excited to add the high-quality production facility at Goose Creek to our manufacturing footprint,” says Seth Tomasch, CEO of Chromascape.
Kemira’s colorants include basic and direct dyes, organic pigments and special colorants which are used in numerous different paper and packaging applications such as tissue, carboard, newspaper, and high-end packaging solutions for jewelry, cosmetics and food stuffs.