SINGAPORE, — August 4, 2016 — The Textile Effects division of Huntsman Corp. today announced that it has entered into an agreement with Jihua Group under which Huntsman Textile Effects will grant a sole license to Jihua Group to manufacture, sell and market Huntsman’s patented reactive Super Black dyes in China. Huntsman and Jihua will be selling the Super Black products under their respective tradenames.
As part of the agreement, Huntsman has also awarded Jihua Group the right to sub-license its patented Super Black dyes in China. The agreement, including the right to sub-license, takes effect immediately.
Commenting on the agreement, Rohit Aggarwal, President of Huntsman Textile Effects said, “We are very pleased to be partnering with Jihua Group on an exclusive basis in China for our patented reactive Super Black dyes. The partnership with Jihua Group will significantly enhance our competitiveness in China which is a very important market for Huntsman. Jihua Group is a market leader in China for the manufacture of dyes and intermediates with state-of-the-art facilities. With the increasing regulatory focus on environmental compliance, Jihua Group is a trusted partner who share our belief in sound environmental and ethical practices.”
Mr. Shao Bojin, Chairman of Jihua Group said, “Huntsman is an industry leader known for true innovation. We are therefore extremely honored to enter into this strategic agreement with such a global leader. This partnership will allow Jihua to complement our strengths in manufacturing and backward integration with Huntsman’s extensive global reach and technological innovation.”
The agreement announced today will set the foundation for the two parties to enter into further talks for a more extensive and broader strategic cooperation.
Posted August 4, 2016
Source: Huntsman Corp.