DyStar sells German Brunsbuttel plant to chemical firms

07 September 2010 21:05  [Source: ICIS news]

TORONTO (ICIS)--DyStar has agreed to sell its German plant in Brunsbuttel, near Hamburg, to chemical firms CBW Chemie GmbH Bitterfeld and WeylChem, the textiles and leather chemicals producer said on Tuesday.

DyStar’s Brunsbuttel production, mainly reactive dyes, would be shifted to sites in Asia beginning in 2012, it said.

The purchasers planned to use Brunsbuttel as a platform for paper, textiles, leather and agrochemicals production, DyStar said.

The buyers would continue to employ the site's 120 workers, it added. Financial terms were not disclosed.

Tuesday's announcement came in the wake of market speculation that DyStar was seeking a buyer for Brunsbuttel.

DyStar is described as one of the world's largest producers in the textiles and leather industry, along with Huntsman and Clariant.

The company is part of part of India's Kiri Dyes and Chemicals, which acquired it out of insolvency in February.

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By: Stefan Baumgarten
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