Stahl, a leading specialty coatings company for flexible materials, is divesting its wet-end business and selling it to Syntagma Capital. The move is part of Stahl’s transformation into a company focused entirely on the formulation of specialty coatings for flexible materials. The sale of the chemicals business also means moving 428 employees, along with production facilities located in Italy and India.
High-quality coatings
The divestment of the wet-phase tanning business allows Stahl, which has expanded its portfolio over the years, to focus on its core business: specialty coatings for flexible materials. Leading the Leather Finishing division will be Andrea Ceretta, recently appointed Group Director Leather Finishing, who has more than 20 years of experience in the global leather industry. “In recent years, Stahl has adopted a focused strategy toward high-quality coatings, positioning itself as a market leader in the flexible materials sector”, commented Maarten Heijbroek, CEO of Stahl. ”The divestment of our wet-end chemicals business completes this transformation. We will now be able to accelerate innovation and sustainability”.
Investing to grow
At the same time, Stahl will open a new production facility in Singapore, doubling its production capacity in China and centers of excellence in Asia, the United States and Europe. Stahl’s role as a stakeholder in promoting innovation and sustainability in the leather industry, however, does not change. The transition, which includes information and consultation with works councils and other regulatory approvals, is expected to be completed in the first half of 2025.
Photo by Stahl
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