BASF India has decided to divest the textile chemicals business to Archroma. The move comes in the wake of its parent company BASF SE’s decision to divest the global textile chemicals business to Archroma. This transaction is expected to close in the first quarter of 2015.
The company will also transfer 30 employees working for the textile chemicals business to Archroma. The decision would have no material impact on the company’s business and would not affect its overall growth strategy. It has however decided to exclude its plants in Thane and Mangalore from a deal.
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