Huntsman to sell textile effects business

Huntsman Corporation has agreed to sell its textile effects division to chemicals and dye company, Archroma, part of SK Capital Partners, for US$718 million.

Over the last twelve months the business has sales of US$772 million.

"After evaluating several different options and thoroughly reviewing prospective offers for the business, our board of directors decided that SK Capital would be a better owner of the business over the long-term than Huntsman and that the value they offered was in the best interests of our shareholders,” said Peter Huntsman, CEO.

The purchase is expected to close in Q1 2023.