The Textile Effects division of Huntsman Corporation and Jihua Group, based in Zhejiang Province (China), have signed an agreement for a strategic partnership.
Under the agreement, the two companies will cooperate in a wide range of areas to jointly capitalize on the growing need for dye and chemical solutions for China’s textile sector. The partnership will help the two companies speed up their supply chains to react more quickly to customers’ demand and increase cost efficiency for customers.
The forming of the strategic partnership marks a further step forward for the existing cooperation between the two companies. In August, Huntsman Textile Effects announced it had granted a sole license to Jihua for manufacturing, sales and marketing of Huntsman’s patented reactive Super Black dyes in China.
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.
Rohit Aggarwal, President of Huntsman Textile Effects, says, “We are very pleased to have broadened our cooperation with the Jihua Group into a strategic partnership. 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.”
Shao Bojin, Chairman of Jihua Group, says, “We are equally honored to partner with such a global leader as Huntsman to pool and complement our resources and strength so as to jointly tap into the Chinese market, which promises huge opportunities.”