Huntsman enters into strategic partnership with Jihua Group
The strategic alliance will help further strengthen the two companies’ capabilities of serving their customers in China and speed up their expansion in the country while raising standards for the whole industry. Investment in China’s textile industry grew 1.6 times year-on-year in the first six months of this year to RMB 13.1 billion, pointing to a marked expansion by textile manufacturers, according to China National Textile Apparel Council (CNTAC). This is also expected to result in growing need for chemical solutions.
“We are very pleased to have broadened our cooperation with Jihua Group into a strategic partnership,” said Rohit Aggarwal, President of Huntsman Textile Effects, at the signing ceremony. “This strategic alliance will allow us to create greater cost and operational efficiencies and we can react quicker and be more nimble to our customers in China. Huntsman is now even better positioned to capture the emerging mark opportunities in China. The alliance will also help to pave the way for us to enter into further discussions with Jihua Group to broaden our cooperation to include other reactive dyes and intermediates in the future,” continued Mr Aggarwal.
Huntsman Textile Effects is the leading global provider of high quality dyes and chemicals to the textile and related industries, with six primary manufacturing facilities around the world, including a plant in Panyu, Guangdong Province. Huntsman Textile Effects also operates two formulation distribution centers in Panyu and Hangzhou, Zhejiang Province, as well an R&D center in Panyu. Jihua Group is one of the top 500 Chinese private companies and a market leader in China for the manufacture of dyes and intermediates with state-of-the-art facilities. Headquartered in Hangzhou, China, the company owns and operates an intermediate production facility in Jiangsu China. Zhejiang Jihua Group is one of the top 500 Chinese private enterprises and its products are marketed to almost 86 countries globally.