#Textile chemistry

2016-08-23

TANATEX will be acqurired by Transfar Chemicals

Zhejiang Transfar Co. Ltd. (SZSE:002010), a leading Chinese company active in chemicals and logistics, which is part of Transfar Group, and TPC Holding B.V., the holding company of TANATEX Chemicals group, a global leader in specialist textile chemicals based in the Netherlands, today announce to have signed a definitive agreement under which Zhejiang Transfar Co. Ltd. will acquire 100% of the shares of TANATEX Chemicals group.

After the acquisition TANATEX Chemicals will continue to operate under the existing TANATEX brand as an independent entity within the Transfar Group.

The acquisition of TANATEX Chemicals enables both groups to:

Provide its global customer base with a broader and enhanced product portfolio
Use TANATEX Chemicals’ global footprint to accelerate growth of the combination
Benefit from Transfar Chemicals’ #1 position in the large Asian textiles auxiliaries market
Leverage on the strong R&D focus and expertise present at both companies
Optimise production between TANATEX Chemicals’ locations in Ede, the Netherlands and Rayong, Thailand, and Transfar Chemicals’ locations in China
Become one of the major global leaders in specialised textile auxiliaries

CEO TANATEX Chemicals, Mr. Marco de Koning:

“We are excited to join forces with Transfar Chemicals. Together we will be in a better position to support our globally active client base and their growth. Transfar Chemical’s strong Asian market position offers a great opportunity to further develop TANATEX Chemical’s position in Asia, a key focus area, especially after opening our state-of-the-art facility in Rayong, Thailand in 2014. Moreover, Transfar will benefit from our market coverage outside of Asia Pacific. We are looking forward to working with our customers,employees and the Transfar team to take the combined company to the next level.”

Senior Vice President, strategy, Transfar Chemicals, Mr. John Zhu:

“With TANATEX Chemicals becoming a part of the Transfar Chemicals, we will take a major step in the execution of our strategy to grow our textile chemicals business globally. Following this strategic move, we believe we will be able to realise synergies in many aspects and further enhance our combined global leading position by providing an even higher and faster service level to our customers.“

President, Transfar Chemicals, Mr. Zhou Jia Hai:

“Both Transfar Chemicals and TANATEX Chemicals pay high attention to the relationships with our stakeholders. Together we will further enhance our strategic partnerships and develop a win-win platform in the global textile chemicals value chain. We are committed to work together with our stakeholders for a sustainable future.”

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