29 Sep 2009

DyStar to file for bankruptcy

The rumour mill has picked up that DyStar will file for bankruptcy. The company's market focus is on textiles and leather and not the paper industry.


DyStar is a conglomeration of textile dyes businesses - founded in 1995 as an amalgamation of the Bayer, Hoechst and Mitsubishi textile dye businesses, they later acquired the BASF, Mitsui, Zeneca, Colour Solutions and Yorkshire Americas businesses. In 2004 DyStar was acquired by the private equity company, Platinum Equity and is recognised as a leader in the textile and leather markets

More news is expected, but the complex collection of companies in a rapidly changing market may have proved too difficult for the private equity company in the 'credit crunch' era. There will surely be some interest from the surviving market players in purchasing some or all of DyStar; however, it is a good opportunity to take capacity out of the ailing European market.


3 comments:

  1. Suppliers have been informed about this today...

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  2. So have major customers. This is a disaster for major apparel manufacturers

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  3. Sympathy to all employee in DyStar Germany. Questions arise on what could happen and when to other DyStar companies around the world in particular in Asia : Indonesia and China.

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