Huntsman Acquires Baroda Division of Metrochem Industries
Huntsman Corporation announced the acquisition of the Baroda Division of Metrochem Industries, a manufacturing facility for the production of intermediates and specialty products for textiles, located in Baroda, India. The Baroda Division today has more than 700 employees and contractors, and current annual sales of approximately 2.4 billion rupees.
"This acquisition is a major milestone in our strategy. With this move we are realigning our manufacturing footprint towards Asia, the region that will fuel our growth in the years to come," said Paul Hulme, President of Huntsman's Textile Effects division (TE).
"This vertical backward integration will significantly strengthen our competitiveness and support our development in Asia, and most notably in India, one of our largest markets. The world of specialty textiles has been changing at a rapid pace, with new materials, technologies and innovations in production around the world. Supporting the growth of the Indian textile industry means exploring opportunities beyond the conventional textile chain of fiber to fashion - penetrating the nonwoven and technical segments of the textiles industry as well," he added.
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