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Huntsman grants sole license to Jihua Group in China

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The  Textile  Effects  division of Huntsman Corporation  (NYSE:  HUN)  today  announced  that  it  has  entered into an agreement  with Jihua Group under which Huntsman Textile Effects will grant a  sole  license  to Jihua Group to manufacture, sell and market Huntsman’s patented  reactive  Super  Black dyes in China.  Huntsman and Jihua will be selling the Super Black products under their respective tradenames.

 

As part of the agreement, Huntsman has also awarded Jihua Group the right to sub-license its patented Super Black dyes in China. The agreement, including the right to sub-license, takes effect immediately.

 

Commenting on the agreement, Rohit Aggarwal, President of Huntsman Textile Effects said, “We are very pleased to be partnering with Jihua Group on an exclusive basis in China for our patented reactive Super Black dyes. The partnership with Jihua Group will significantly enhance our competitiveness in China which is a very important market for Huntsman.  Jihua Group is a market leader in China for the manufacture of dyes and intermediates with

state-of-the-art facilities.   With the increasing regulatory focus on environmental compliance, Jihua Group is a trusted partner who shares our belief in sound environmental and ethical practices.”

 

Mr.  Shao Bojin, Chairman of Jihua Group said, “Huntsman is an industry leader known for true innovation.  We are therefore extremely honored to enter into this strategic agreement with such a global leader.  This partnership  will  allow Jihua to complement our strengths in manufacturing and  backward  integration  with  Huntsman’s  extensive  global  reach  and technological innovation.”

 

Source: Huntsman Textile Effects

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