BASF, Bayer and Hoechst, all headquartered in Germany, have announced the consolidation of the
companies textile activities into one newly created operation. According to the agreement, BASF
will combine its textile chemical business with DyStar, the joint venture of Bayer and Hoechst.
Each company will hold an equal share in this yet unnamed company. The newly formed company will
have annual sales of 2 billion marks ($1 billion) and have a work force of approximately 4,700
employees worldwide.This venture will create the world’s largest maker of textile dyes. The company
is scheduled to begin operation April 1, 2000.