SINGAPORE — May 1, 2015 — The Textile Effects division of Huntsman Corp. and Pürsan Pigment A.Ş announced today that they have entered into a joint venture agreement for the manufacture, formulation and sale of textile chemicals and dyes in Turkey. The joint venture takes the already established long term partnership between the two companies to a next strategic level of collaboration, and will operate under the name Huntsman Pürsan Chemicals.
In welcoming the joint venture, Paul Hulme, President Textile Effects said: “Huntsman is a recognized global market leader and innovator in textile dyes and chemicals. We are impressed with Pürsan’s proven success, and are excited to partner with the team. The strategic alliance between our two companies will strengthen our position in the industry and enable us to enhance our service offerings and solutions to our customers.”
“This joint venture is exciting as it offers increased speed and flexibility to our customers with expanded local manufacturing capabilities and facilities. It represents both our organizations’ strong commitment to provide customers with a single source for the best in textile dyes and chemicals sales and service,” commented Ajay Kanwar, Commercial Director – South Asia, Middle East, Turkey and Africa.
Hakki Kagan Biter, President, Pürsan Pigment A.Ş commented: “We are extremely happy and proud to be associated with this partnership and with an established international brand like Huntsman. Together we will strengthen the competitive position of the Turkish textile sector which is contributing one of the highest export and employment in Turkey.” “The joint venture will bring together a powerful combination of proven innovation from Huntsman and a heritage of strong customer focus and trust built through the years from Pürsan,” continued Biter.
The joint venture is expected to come into effect in June 2015, subject to regulatory approvals and customary closing conditions.
Posted May 5, 2015
Source: Huntsman Textile Effects