Sensient Technologies Acquires Industrial Dye Business of Crompton Colors
Press release from the issuing company
MILWAUKEE--Dec. 3, 2001--Sensient Technologies Corporation has acquired the industrial dye business of Crompton Colors, Incorporated from Crompton Corporation. The business is a producer of dyes for a variety of non-food applications.
Crompton Colors, with revenues of approximately $40 million, manufactures technical dyes and colors for paper and printing applications, plastics, and a number of specialty markets, including dyes used in ink-jet inks.
This is the second acquisition announced within the last month. Said Kenneth P. Manning, Chairman, President and CEO of Sensient Technologies, "Integrating Crompton Colors and Kimberly-Clark Printing Technology with our existing technical dye capabilities strengthens Sensient's position as a leading supplier of color products for several fast-growing markets around the world.''
The Crompton acquisition, combined with the Kimberly-Clark Printing Technology acquisition, will add at least $60 million in revenues to the Company in 2002. "Our strategy is paying off,'' said Ken Manning. "Our worldwide cost structure has been reduced by $20 million and our business is operating in several new markets. The outlook for 2002 is excellent.''
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