Platinum Equity signs agreement to acquire DyStar
BASF, Bayer and Hoechst to divest their holdings
"We are excited about the opportunity to acquire this business," said Tom T. Gores, chairman and chief executive officer of Platinum Equity. "DyStar is already a leader in the textile dye industry, with a well-deserved reputation in servicing the textile and fashion industry. We have enormous confidence in its future potential."
DyStar is the world's leading provider of dyes and services for the textile industry. The company was founded by Bayer and Hoechst in 1995 and extended to include BASF's textile dye activities in 2000. DyStar has approximately 3,900 employees worldwide and is active in all key textile markets through its own subsidiaries. In 2003, DyStar posted sales of around EUR800 million.
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