Two unlisted family businesses with similar cultural backgrounds and values have joined forces
Shanghai, China – Milliken, the world’s leading supplier of polymer colorants and additives, recently announced that it has acquired dyes, pigments, and pigment dispersions headquartered in Chicago, Illinois. Keystone Aniline, a leader in solids and polymers. Through the strong alliance of the two companies, the two companies will complement each other’s advantages and work together to provide customers with a richer range of advanced colorant solutions, technologies and services. Additionally, the acquisition enables customers to streamline their supply chain channels and access a complete line of colorants with just one company. After acquiring Keystone, Milliken’s product supply capabilities will be further strengthened to serve global customers through Keystone’s factories around the world.
Russ Rudolph, vice president of Milliken’s Performance Colorants Division, said: “This acquisition is of great significance to all parties. Customers of both companies will gain more. Proven colorant technology and resources, thereby helping them enter and develop new markets and consolidate their competitive advantages. For suppliers, the expansion of the company’s scale also means more business opportunities in the future. From a business perspective , we expect that this acquisition will accelerate the company’s development and create greater value.”
Complementary advantages, strong alliances
Milliken and Keystone both provide colorant solutions for the agricultural, plastics, coatings, inks, household and industrial markets. However, the two companies focus on different segments, so there is not much overlap in their customers. Milliken’s high-performance colorants business is known for its innovative chemical formulations and strong new molecule synthesis capabilities, while Keystone is renowned for its formulation technology and application development. Therefore, the combination of the two companies will create strong synergies and develop more innovative products and applications for customers.
John Andrews, CEO of Keystone, said: “By combining our colorant products and expertise with Milliken’s solutions and applications experience, both parties will be able to achieve greater success in our business and Significant synergies have been created in the market. We believe that the combined company will gain broader development space and be able to better meet the changing needs of global customers. This partnership will allow us to strengthen our capabilities in R&D, manufacturing, quality control and product management. usher in deeper and richer growth opportunities, laying a solid foundation for Milliken’s future development.”
Both companies are unlisted family businesses and are well-known in the colorants industry. Keystone has been established for 97 years, while Milliken has a long history of 152 years. . The values of both parties are very similar and they both advocate business ethics, which is also reflected in their leading compliance supervision and safety management capabilities. Both companies’ profitability growth capabilities exceed the industry average and have production bases in multiple countries in North America, Europe, Latin America and Asia.
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