Sensient Technologies Sells its Ink Business
According to Sun Chemical, Sensient Technologies Corporation (NYSE: SXT) has entered into a definitive agreement to sell 100% of its shares of Sensient Imaging Technologies and certain other assets related to the production of inks to Sun Chemical and its parent company, DIC Corporation. The transaction is expected to be finalized in the second quarter of 2020.
Sensient Imaging Technologies (Sensient) with its offices in St Louis, Missouri, is part of Sensient Technologies Corporation based in Switzerland, a leading global manufacturer of colors and employs advanced technologies to develop speciality food and beverage and cosmetic and pharmaceutical systems, inks and colors, and other specialty chemicals. It has built a trusted brand that delivers innovative digital technology to its customers, setting the standard for digital inkjet printing.
As a supplier of digital inks, Sensient has a reputation for high-quality solutions that add value to customers around the world. Sensient’s experience in water-based solutions has resulted in innovations for a number of industrial markets and the ability to align these developments with Sun will further strengthen this proposition.
“As announced last year, the sale of the inkjet ink business will strengthen our focus on our core businesses,” said Paul Manning (pictured), Sensient’s Chairman, President, and Chief Executive Officer. “We are pleased that we can transition the business to a buyer that is committed to the industry. Our service and quality commitments to our customers will be maintained, and we will work to ensure a seamless transition.”
Sun Chemical is a leading producer of printing inks, coatings and supplies, pigments, polymers, liquid compounds, solid compounds, and application materials with annual sales of more than US$7.5 billion and over 20,000 employees. supporting customers around the world. Sun Chemical Corporation is a subsidiary of Sun Chemical Group Coöperatief U.A., the Netherlands, and is headquartered in Parsippany, New Jersey, U.S.A.