Operations at DyStar Textilfarben GmbH and DyStar Textilfarben GmbH & Co. KG at the four German DyStar sites in Brunsbüttel, Leverkusen, Frankfurt am Main and Ludwigshafen are now set to restart under the new management of Kiri Dyes & Chemicals Ltd (KDCL), DyStar stated in a press release.
After the purchase, up to 750 jobs in Germany and some 2,000 jobs worldwide are secured. The exact purchase price was not disclosed.
The investor, BSE-listed Indian manufacturer and supplier Kiri Dyes & Chemicals Ltd., plans to continue the sites in Frankfurt/Main, Leverkusen, Ludwigshafen and Brunsbüttel and resume production as quickly as possible. After the German DyStar Group filed for insolvency at the end of September, only the indigo production in Ludwigshafen continued without interruptions.
DyStar will continue to operate as an independent company in the market, said Manish Kiri, Managing Director of KDCL, adding that DyStar and KDCL will enjoy synergies.
DyStar's owner, Kiri Holding Singapore Private Limited, has appointed Manish Kiri as DyStar's new President and Chief Executive Officer (CEO), effective February 4, 2010. Former head, J. Mark Allan, will remain with the company as a Strategic Advisor for six months to assist in the transition of duties and responsibilities.
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